Some late-day buying brought retail stocks close to positive territory but wasn’t able to lift them to the breakeven point.
The S&P 500 Retailing Industry Group finished the day off 0.14 points, well under 0.1 percent, at 854.72 after falling as much as 1 percent earlier in the day. It paralleled the path of the Nasdaq, which landed at 4,074.40, down less than 0.1 percent, after dropping more than 1.5 percent in midday trading.
The Dow Jones Industrial Average and the S&P 500 both recovered from midday drops to end ahead 0.5 and 0.3 percent, respectively, at 16,448.74 and 1,869.43.
Scantly affected by tensions in Ukraine, tech stocks weighed on the market, with Facebook Inc. and Twitter Inc. down 2.7 and 2.1 percent to $56.14 and $40.73, respectively, and Amazon Inc. dropping 2.4 percent to $296.58, putting its two-session decline since last Thursday’s close at 12 percent. Apple Inc. shares were up 3.9 percent to $594.09.
Among U.S.-based retailers, J.C. Penney Co. Inc. shares rallied another 9 percent to close at $8.70, followed by Burlington Stores Inc., up 4.1 percent to $28.74, and Sears Holdings Corp., up 4 percent to $43.50.
The largest declines among U.S.-based retail, fashion and beauty stocks tracked by WWD came from Stage Stores Inc., down 9.9 percent to $19.93, and The Wet Seal Inc., off 8 percent to $1.15. Movado Group Inc. shares contracted 4.8 percent to $39.25.
European markets ended the day on a positive note, with the DAX in Frankfurt leading the way.
The German market was up 0.5 percent to 9,446.36, while the CAC 40 in Paris advanced 0.4 percent to 4460.53, and the FTSE MIB in Milan rose 0.3 percent to 21,513.82. The FTSE 100 in London advanced 0.2 percent to 6,700.16.
Retail and luxury stocks were mostly up, with the day’s biggest gainers including Brunello Cucinelli, 2.1 percent to 20.87 euros; Geox, 1.5 percent to 3.15 euros; Unilever, 1.3 percent to 30.41 euros, and Moncler, 1.1 percent to 12.60 euros.
Among the stocks that lost the most ground were Yoox Group, 1 percent to 25.08 euros; Asos.com, 4.5 percent to 41.81 pounds, and Ted Baker, 2.6 percent to 19.05 pounds.
The euro traded at $1.38 against the U.S. dollar while the pound fetched $1.68 and the Swiss franc equaled $1.13.
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