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.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye