Bon-Ton Stores Inc. led fashion stocks higher today, jumping 12.8 percent to $10.21 despite posting net losses for the second quarter.
The beleaguered department store chain, however, saw comparable-store sales rise 1.6 percent for the three months and outgoing president and chief executive officer Brendan Hoffman said the company was well positioned for fall. The company is now looking for diluted earnings per share of 25 cents to 55 cents for the full year, ahead of the 17 cents analysts had penciled in.
Bon-Ton was far and away the strongest issue in the 100-stock WWD Global Stock Tracker, which gained 0.4 percent to 100.33. The measure of stock performance launched at 100 on July 8.
The weakest stock in the tracker was Sears Holding Corp., which fell 6.8 percent to $33.50. The company’s second-quarter loss widened to $573 million, marking its ninth-consecutive quarter with red ink.
CEO Edward S. Lampert is trying to reinvent the troubled chain with a member-centric model focued on the Shop Your Way program.
Global stocks were mostly moving higher today. The Dow Jones Industrial Average gained 0.4 percent to 17,039.49 in New York, while the FTSE MIB rose 2.1 percent to 20,010.51 in Milan and the Nikkei 225 increased 0.9 percent to 15,586.20 in Tokyo.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion