The S&P 500 Retailing Industry Group rose nearly 1 percent to 880.12 on Wall Street today as most global stock indices logged small gains today.
Among the top performers in the U.S. markets were Elizabeth Arden Inc., up 13.1 percent to $36, and American Apparel Inc., up 11 percent to 73 cents. Arden rose amid reports that it hired Goldman Sachs as financial advisor to help it explore sale options. Those reports came a day after Seoul-based LG Household and Health Care Ltd. said Arden is one of several acquisition targets it was considering. Also gaining ground were Pacific Sunwear of California Inc., up 4.9 percent to $2.99, and The Wet Seal Inc., rising 2.6 percent to $1.19.
Among the decliners was Under Armour Inc., which fell 7.4 percent to $50.42 after the company's guidance for this year disappointed. Under Armour posted a 73.3 percent gain in first-quarter net income and said net revenues for 2014 would be in the range of $2.88 billion to $2.91 billion, or 24 percent to 25 percent growth over 2013. Matthew McClintock, analyst at Barclays, said that guidance "remains conservative."
Also losing ground was Cache Inc., which slipped 5.5 percent to $2.76.
The Dow Jones Industrial Average held steady, ending the day unchanged at 16,501.65.
Overseas, the European stock markets saw minor gains at the close, led by the FTSE MIB in Milan, which was up 0.7 percent to 21,819.48.
The CAC 40 in Paris climbed 0.6 percent to 4,479.54 while the FTSE 100 in London was up 0.4 percent to 6,703.00. The DAX in Frankfurt rose 0.1 percent to 9,548.68.
The euro traded at $1.38 against the dollar, while the pound fetched $1.68 and the Swiss franc went for $1.13.
Retail and luxury stocks were mostly down, with the day’s biggest decliners including Unilever, down 2.1 percent to 30.08 euros, following a 6.3 percent dip in first-quarter sales due to currency headwinds.
Carrefour SA sank 3.2 percent to 28.05 euros and French Connection Group was down 3.6 percent to 0.74 pounds. Asos.com fell 2.8 percent to 45.78 pounds.
Among the few stocks that gained ground were Safilo Group, up 1.8 percent to 15.35 euros; Burberry Group, 1.8 percent to 14.54 pounds; and Gemfields, 2.2 percent to 0.41 pounds.
“I think what’s so interesting about the #MeToo movement and this whole new wave of feminism in general, is that women are finally seeing, ’Oh I can start my own company, oh I can lear to code, oh I can leave my nine-to-five job and do the thing I want to do,” said @brooklyndecker ahead of her @sxsw talk for @createcultivate. The former model took the stage to share wisdom about networking and female-driven entrepreneurship. #wwdeye #sxsw (📷: @jgreenery)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech at the @sxsw conference for @createcultivate, the online platform and conference series for women. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.