Oil prices dropped again Tuesday, paying dividends to retail stocks. Coming off disappointing results from American Express Co. and Wachovia Corp., stocks initially fell, but the market was soon energized by a $4 drop in the price of oil.Closing 2.4 percent higher at 352.58, up 8.38 points, or 2.4 percent, the Standard & Poor’s Retail Index outpaced the Dow Jones Industrial Average and the S&P 500.The Dow gained 135.16 points to close at 11,602.5, up 1.2 percent, while the S&P 500 increased 17 points, or 1.4 percent, to 1,277.Missy retailers such as The Talbots Inc., Chico’s FAS Inc., The Dress Barn Inc. and Christopher & Banks Corp. all saw at least a 3 percent jump in their shares. Talbots closed at $11.71, up 93 cents a share, or 8.6 percent, while Chico’s stock closed at $6.11, up 23 cents, or 3.9 percent. Christopher & Banks’ stock closed at $8.38, gaining 71 cents, or 9.3 percent.Charlotte Russe Holding Inc. rebounded from its 20.3 percent drubbing on Monday with a 78 cent, or 5.8 percent, advance.Specialty teen retailer Zumiez Inc. was up 10.4 percent, closing at $15.03, more than erasing the 4.9 percent decline logged on Monday. Buckle Inc. closed at $51.69, up $2.73, surging 5.6 percent. Pacific Sunwear of California Inc. managed a leap of 41 cents, or 5 percent, to $8.60.Department stores Macy’s Inc. closed at $18.55, an 83 cent, or 4.7 percent, increase, while Saks Inc. had a 5.5 percent gain, closing at $11.12. Limited Brands Inc. also finished strongly, closing at $16.20, up 72 cents, or 4.5 percent. Dillard’s Inc. climbed 8.9 percent to 89 cents.Wal-Mart Stores Inc. advanced 3.1 percent, while rival Target Corp. saw a 0.7 percent gain.Among the largest advances for apparel vendors were Under Armour Inc., up 10.5 percent; Perry Ellis International Inc., up 10 percent; Columbia Sportswear Co., up 6.7 percent; Fossil Inc., up 5.9 percent and Liz Claiborne Inc. up 5.6 percent.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim