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.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye