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.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)