Both retail stocks and the broader market took a minor step back today.
The S&P 500 Retailing Industry Group declined 0.1 percent, or 0.43 points, to 706.83, as the Dow Jones Industrial Average also fell 0.1 percent, or 9.52 points, to 13,973.39.
The day’s decliners included The Jones Group Inc., down 1.9 percent to $11.86; Maidenform Brands Inc., 1.8 percent to $19.68; Tumi Holdings Inc., 1.6 percent to $21.99, and Gap Inc., 1.5 percent to $31.36.
Tandy Brands Accessories Inc. logged the most dramatic swing in the fashion sector, falling 31.1 percent to $1.04 on the Nasdaq in regular trading only to rebound 44.2 percent to $1.50 in afterhours trading.
Tandy said in a regulatory filing that unusual weakness in its gift business caused it to break the fixed charge coverage ratio covenant in its credit facility. “Management of the company has had to devote a considerable amount of time and effort to dealing with the issues that could result from this violation and management is currently in negotiations with its senior lender to address this violation,” Tandy said. The company delayed its quarterly update to the Securities and Exchange Commission.
Markets were also in retreat in Europe.
Frankfurt’s DAX fell 1.1 percent to 7,631.19, as Milan’s FTSE MIB decreased 1 percent to 16,544.95, Paris’ CAC 40 fell 0.8 percent to 3,669.60 and London’s FTSE 100 dipped 0.5 percent to 6,327.36.
Among the luxe stocks losing ground were LVMH Moët Hennessy Louis Vuitton, down 1.2 percent to 131.95 euros; Burberry Group, 0.5 percent to 13.66 pounds; PPR, 0.4 percent to 159.80 euros, and Tod’s, 0.4 percent to 100.40 euros.
The euro traded at $1.33 against the dollar while the pound went for $1.55.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)