Retail stocks’ six-session winning streak came to a halt today as shares fell back 1 percent on Wall Street.
The S&P 500 Retailing Industry Group declined 8.79 points to 871.86, ending six consecutive trading days of gains that had seen the index rise 3.9 percent. The S&P 500 also ended a six-day positive run, falling 0.2 percent to 1,875.39, while the Dow Jones Industrial Average gave back less than 0.1 percent to close at 16,501.65.
Among the fashion, retail and beauty stocks monitored by WWD, Elizabeth Arden Inc. generated the largest gain by far as shares rose 11.9 percent to $31.83 after South Korea’s LG Household & Health Care Ltd. said, according to published reports, that it was considering a bid for the Mirimar, Fla.-based beauty products firm.
Sears Holdings Corp. shares were up 6.1 percent to $43.25 and The Bon-Ton Stores Inc. rallied 5.3 percent to close at $11.56. Teen retailer Aérospotale Inc. saw its shares pick up 2.1 percent to $4.83.
Specialty retailers Cache Inc. and Bebe Stores Inc. produced the largest declines in the WWD sample, contracting 5.2 and 4 percent, respectively, to close at $2.92 and $5.57.
Shares of Facebook Inc. were down 2.7 percent to $61.36 but made up the lost ground after reporting higher-than-expected earnings after the markets closed. In the early moments of after-hours trading, shares rose 2.8 percent to $63.06.
European stock markets were also down at the close of trading, with Milan’s FTSE MIB leading the way.
The Italian market fell 1.2 percent to 21,675.75 followed by the CAC 40 in Paris, down 0.7 percent to 4,451.08, and the DAX in Frankfurt, off 0.6 percent to 9,544.19. The FTSE 100 in London declined 0.1 percent to 6,674.74.
Among the stocks that lost the most ground were Koovs, down 2.5 percent to 1.78 pounds; Tod’s, 1.1 percent to 100.70 euros; Moncler, 2.6 percent to 12.55 euros, and French Connection Group, 3.7 percent to 74 pence.
The gainers included Yoox Group, which advanced 2.1 percent to 26.08 euros; Safilo Group, 1.9 percent to 15.08 euros; Boohoo.com, 9 percent to 55 pence, and Gemfields, 3.8 percent to 42 pence.
The euro traded at $1.38 against the U.S. dollar while the pound fetched $1.68 and the Swiss franc changed hands at $1.13.