By  on August 28, 2014

The WWD Global Stock Tracker joined major markets around the world in retreat, shedding 0.5 percent to end the day at 100.62 and ending a three-day winning streak.

As investors steadied themselves amid word of newly heightened tensions in Ukraine, markets in Asia, Europe and North America were in decline and commodities like gold and oil up. The S&P 500, which had managed the first two over-2,000 closes in its history on Tuesday and Wednesday, fell 0.2 percent to 1,996.74, while its retailing subset, the S&P 500 Retailing Industry Group, contracted 0.1 percent to 955.84.

The issue to take the biggest hit among the WWD tracker sample was Guess Inc., shares of which dropped 8.8 percent to $23.38 after it reported a larger-than-expected drop in sales and earnings late Wednesday and provided guidance that was similarly below Wall Street’s expectations. Luen Thai Holdings Ltd. had a similar magnitude of decline, dropping 8.7 percent to 2.10 Hong Kong dollars, or 27 cents at current exchange.

Shares of Abercrombie & Fitch Co. were off 5.3 percent to $41.87 as its second-quarter earnings exceeded levels expected by analysts while revenue results fell short of them. American Apparel Inc. was off 4.7 percent to 94 cents and Movado Group Inc. down 4.4 percent to $37.07.

Among equities gaining ground, Chico’s FAS Inc. logged the largest increase, 4.6 percent to $16, after it declined the same percentage Wednesday on second-quarter results that fell short of estimates. However, Express Inc., shares of which rose 12.8 percent Wednesday on stronger-than-expected results, came up on the positive side again with a 3.3 percent increase to $16.99.

Samsonite International SA shares were up 2.4 percent to 25.35 Hong Kong dollars, or $3.27, and Matsuya Co. gained the same percentage to 1,189 yen, or $11.45. Ted Baker plc shares added 1.4 percent to close at 19.39 pounds, or $32.14.

 

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