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.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia