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.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@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)