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.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)