A relaxation of tensions in Ukraine, Iraq and other international hot spots gave stocks a chance to move ahead and lifted the WWD Global Stock Tracker 0.9 percent to 98.94.
With Monday’s gain, the tracker, still below the baseline level of 100 set on its launch day of July 8, moved into positive territory over the last three months.
U.S. equities dominated the stocks with gains on a day when the S&P 500 Retailing Industry Group advanced 1 percent to 917.14.
American Apparel Inc. advanced 5.6 percent to 94 cents for the strongest percentage gain, followed by American Eagle Outfitters Inc.’s 3.9 percent pickup to $11.14. J.C. Penney Co. Inc. returned to the leaderboard with a 3.9 percent rise to $9.87 following a decline on Friday. Quiksilver Inc. was up 3.3 percent to $3.13 while Kate Spade & Co. rose 3.2 percent to $32.66.
The leading stock outside the U.S. was Brunello Cucinelli SpA, ahead 3.2 percent to 17.33 euros, or $23.22 at current exchange.Just 19 of the 100 issues tracked by WWD lost ground, led by Li Ning Co.’s 3.8 percent decline to 4.54 Hong Kong dollars, or 59 cents, and Elizabeth Arden Inc., down 2.9 percent to $19.59. Lotte Shopping Co. was off 2.7 percent to 320,000 South Korean won, or $313.85, and Debenhams Plc traded down 2.1 percent to 63 pence, or $1.06. Samsonite International SA was down 1.6 percent to 24.05 Hong Kong dollars, or $3.10.
While the absence of further international turmoil helped stocks in Asia, U.S. stocks and to a slightly lesser degree those in Europe benefited from further signs of hot merger and acquisition activity as Dollar General Corp. entered the bidding for Family Dollars Stores Inc. with a $9.7 billion offer. On a valuation basis, the bid tops the $9.2 billion offer made last month by Dollar Tree Inc. for Family Dollar, a transaction already approved by the boards of both firms.
Urban Outfitters Inc. checked in after the close of the markets with second-quarter earnings that matched expectations and revenues that exceeded them. The TJX Cos. Inc. is due to report its Q2 results Tuesday morning.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews