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.
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
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)