Retail stocks managed small gains, all of them in the late afternoon, as investors shrugged off heightened tensions in Ukraine and focused on healthy earnings reports from Coca-Cola and Johnson & Johnson.
The S&P 500 Retailing Industry Group was up 0.1 percent to 855.47, adding to Monday’s 0.8 percent advance, while the Dow Jones Industrial Average and S&P 500 advanced 0.6 and 0.7 percent, respectively, to 16,262.56 and 1,842.98. The Nasdaq also ended higher, up 0.3 percent to 4,034.16, for its second consecutive day of gains.
Among fashion, retail and beauty stocks monitored by WWD, The Estée Lauder Cos. Inc.’s shares rose 2.3 percent to $70.80 after it was added to Goldman Sachs’ “conviction buy” list early Tuesday. Twitter Inc. shares rose 11.4 percent to $45.52 for the largest gain among stocks on WWD’s radar, followed by gains of 6.6, 5.9 and 5.1 percent, respectively, for New York & Co. Inc., Sears Holdings Corp. and Aéropostale Inc., which ended the day at $4.55, $33.57 and $4.71.
Shares of Lands’ End Inc., recently spun off from Sears, were down 0.3 percent to $26.09. Larger declines hit Joe’s Jeans Inc., down 5.6 percent to $1.02; J.C. Penney Co. Inc., down 4.7 percent to $7.25, and Delia’s Inc., down 4.6 percent to 75 cents.
Penney’s shares are down 19.2 percent since closing at $8.97 on March 27.
European markets were closed before U.S. markets began their afternoon rally and all finished with declines, led by the FTSE MIB’s 2.3 percent drop in Milan, to 20,817.49. Frankfurt’s DAX was off 1.8 percent to 9,173.71 while the CAC 40 in Paris fell 0.9 percent to 4,345.35 and London’s FTSE 100 lost 0.6 percent to land at 6,541.61.
Losers outnumbered winners. Equities that fell included Boohoo.com, which tumbled 9.1 percent to 45 pence; Luxottica, which was down 3.1 percent to 40.25 euros; Marks & Spencer, which fell 2.4 percent to 4.17 pounds, and Mulberry, down 2.7 percent to 7.10 pounds.
Among the few stocks in the sector that climbed were Esprit, up 4.3 percent to 13.60 Hong Kong dollars; Tod’s, which rose 3.5 percent to 98.55 euros, and French Connection, up 3 percent to 77 pence. Debenhams finished up 4.5 percent to 81 pence after detailing strategies to improve its performance as it reported a 25 percent dip in pretax profits to 85.2 million pounds, or $142.3 million, for the 26 weeks ended March 1.
The pound traded for $1.67 against the U.S. dollar, while the euro changed hands for $1.38 and the Hong Kong dollar equaled 12.9 cents.
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