Modest upward momentum in world markets rubbed off on fashion equities today, moving the WWD Global Stock Tracker up 0.4 percent to 101.13.
While the S&P 500 closed above 2,000 despite a small decline, ending the day at 2,002.28, the majority of major indices around the world finished with gains, led by a 1.4 percent increase for Shanghai’s SSE Composite Index, which ended the day at 2,266.05, and a 1.2 percent increase for Tokyo’s Nikkei 225, which rose to 15,668.60.
The largest percentage gains among issues monitored by the tracker came from American Apparel Inc., up 6.9 percent to $1.01 for its first close about $1 in a week; Li Ning Co., up 4.2 percent to 4.48 Hong Kong dollars, or 58 cents at current exchange, and Under Armour Inc., which rose 4.1 percent to $71.13.
Large gains also came from Isetan Mitsukoshi Holdings Ltd., up 3 percent to 1,289 yen, or $12.35; Revlon Inc., up 3 percent to $34.99, and Perry Ellis International Inc., up 2.9 percent to $20.65.
U.S.-based stocks were responsible for four of the five weakest performances of the day, with The Bon-Ton Stores Inc.’s 3.2 percent decline to $10.22 and J.C. Penney Co. Inc.’s 2.4 percent dip to $10.54 faring most poorly. Sears Holdings Corp. gave back 2.1 percent to close at $34.08 and Avon Products Inc. was off 1.7 percent to $13.80, while Salvatore Ferragamo Italia SpA’s shares were down 1.3 percent to 21.90 euros, or $28.75.
While U.S. markets had little to ponder in the way of financial news as work resumed after Labor Day, investors will have data on factory orders and retail sales and the Beige Book report from the Federal Reserve on Wednesday. Additionally, G-III Apparel Group Ltd. and Vince Holding Corp. will report quarterly financial results before the markets open and results from PVH Corp. following the close of trading.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)