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.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia