Investors rewarded Express Inc. for its strong second-quarter results and punished Chico’s FAS Inc. for its poor performance in the quarter as the WWD Global Stock Tracker remained essentially flat for the day.
The tracker ended at 101.09, up 0.01 from its 101.08 finish on Tuesday. That paralleled the performance of the S&P 500, which rose 0.1 points to close at 2,000.12 for its second endpoint above the 2,000 mark.
Express posted the best performance among the 100 equities monitored by the tracker, rising 12.8 percent to $16.45, while Chico’s recorded the steepest decline among tracker stocks, declining 4.6 percent to $15.29. Express’s second-quarter results exceeded analysts’ consensus estimates, as did its guidance for the remainder of the year, while Chico’s results fell short of expectations as heavy promotions reduced margins but failed to prevent a spike in inventory.
Other top gains came from Yoox.com, up 6.8 percent to 20.31 euros, or $26.75 at current exchange, and J.C. Penney Co. Inc. and Sears Holdings Corp., which both rose 3.7 percent to, respectively, $11.20 an $35.94. Lotte Shopping Co. rose 3.5 percent to 336,000 South Korean won, or $330.50.
Among other equities to fall were Movado Group Inc., down 4.6 percent to $38.79; I.T Ltd., down 4.1 percent to 2.57 Hong Kong dollars, or 33 cents, and American Apparel Inc., down 3.5 percent to 98 cents. Shiseido Co. backtracked 2.9 percent to 1,952 yen, or $18.76.
Earnings news is likely to be among the drivers of trading on Thursday as Abercrombie & Fitch Co., Signet Jewelers, Coty and Pacific Sunwear of California are among the firms scheduled to report quarterly results.