Retail shares nosedived on Friday as investors continued to react to gloomy economic news and heightened international tensions, placing an exclamation point on a week marked by continuing erosion in the equity markets.
The Standard & Poor's Retail Index sank 3.3 percent to 380.04, closing out the week with a 4.3 percent decline. The Dow Jones Industrial Average tumbled more than 220 points for the day to close down 1.8 percent at 11,841.95, bringing the decline for the week to 3 percent.
The broader S&P 500 fell 1.9 percent to 1,317.93.
In the department store sector, Kohl's Corp. tripped 4 percent to $43.39, Sears Holdings Corp. fell 3.2 percent to $74.75, Macy's Inc. declined 3.6 percent to $20.91 and J.C. Penney Co. Inc. fell 1 percent to $36.88. Saks Inc. saw a 1.2 percent loss to end the day at $12.32, while Nordstrom Inc. decreased 3.3 percent to $36.88.
Even the more resilient discounters felt the pinch. Retail giant Wal-Mart Stores Inc. dropped 2.5 percent to $56.26, while rival Target Corp. slid 3.5 percent to end the day at $49.98. Off-price leader TJX Cos. Inc. lost 1.9 percent to end the week at $32.47.
Among women's specialty retailers, Chico's FAS Inc. sank 5.5 percent to $6.21, Charming Shoppes Inc. dropped 4.7 percent to $5.04, AnnTaylor Stores Corp. fell 2.7 percent to $25.56 and Coldwater Creek Inc. plunged 6.2 percent to $5.71.
Gap Inc. fell 2.4 percent to close at $17.45, while Limited Brands Inc. dropped 4 percent to $18.21.
In the teen space, Pacific Sunwear of California Inc. declined 7 percent to $9.18, Guess Inc. dropped 3.3 percent to $39.81, Buckle Inc. dropped 2.6 percent to $47.95 and Abercrombie & Fitch Co. fell 2 percent to $67.45.
One of the few gainers was Lululemon Athletica, which saw a 3.3 percent jump in shares to end the day at $28.40. Talbots Inc. increased the same amount to $13.74 following numerous executive appointments during the week.
Vendors also logged large declines for the day, with Warnaco Group Inc. off 4.1 percent to $46.76, Jones Apparel Group Inc. down 3.7 percent to $14.96 and VF down 3.5 percent to $69.74. Polo Ralph Lauren Corp. and Liz Claiborne Inc. were down a relatively modest 2.4 percent and 1.7 percent, respectively, to $64.41 and $15.99.
@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