LATE RISERS: Thursday’s same-store sales reporting ritual had more than a little in common with the month it covered — slow at the start with a pickup at the end. The Wet Seal Inc. and Cato Corp., who’d wind up with the weakest performances of the month (down 9.7 and 7 percent, respectively), filed early in the morning while the better numbers — Nordstrom Inc. and Gap Inc.’s stronger-than-expected respective increases of 8.6 and 5 percent — came as the last data trickled in, along with upside surprises from Kohl’s Corp., Stein Mart Inc. and off-price titans The TJX Cos. and Ross Stores Inc. RELATED STORY: Holiday's Aftermath, Squeeze on Profits >>
THE EXPECTATIONS GAME: Earlier estimates from Thomson Reuters called for a modest 2 percent median increase in reporting stores’ same-store sales, but that number was lowered to 1.7 percent Wednesday as more analysts filed their numbers and others lowered previously issued approximations. The final average for the month was 2.3 percent and, excluding drugstores, rose to 4.5 percent, 1.2 points better than anticipated. Promotional and based on a shrinking sample, to be sure, but far better than November’s 1.6 percent advance, which was hampered by Hurricane Sandy.
VALUE VICTORS: Tempting prices delivered the dollars to fashion merchants late in the month, but it was the stores that live and die by price every day that posted the best numbers overall. In addition to Nordstrom’s solid performance, the largest increases came from Costco Wholesale Corp. (8 percent excluding fuel sales), TJX and Ross (both up 6 percent) and Stein Mart Inc. (up 5.9 percent).
A room full of toiles at the haute couture atelier in the Dior exhibition at Les Arts Décoratifs, open in Paris since July 5. This is just one of three major exhibitions that have been timed to coincide with the house's 70th anniversary. See the rest of the exhibits, plus read WWD's look into the iconic brand's history. Link in bio. #wwdfashion (📷: @dominiquemaitre)
For spring, Pamplemousse's Danica Zheng presented her signature slip dresses attached to a white T-shirt along with floral windbreakers, off-the-shoulder cotton blouses and more. For more highlights from the New York trade shows, go to WWD.com. #wwdfashion
The Green Carpet Fashion Awards closed out Milan Fashion Week yesterday. The fashion industry flocked to the event, showing its efforts to support and spread the message of sustainability. Supermodel Gisele Bündchen said "if each one of us took at least one step is this direction, there is no saying how much could be done." #wwdeye #wwdfashion #mfw (📷: Lodovico Colli di Felizzano)
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)