Retail shares rallied Monday for the fifth consecutive trading session, gaining 3.1 percent as investors seemed, at least for now, to have priced dire holiday and economic predictions into stocks.
The Standard & Poor’s Retail Index increased 8.59 points to 287.09.
Retail issues modestly lagged the Dow Jones Industrial Average, which increased 3.5 percent, or 298.76 points, to 8,934.18. Investors were buoyed by the prospects of additional fiscal stimulus from Washington and a bailout of the Big Three automakers and briefly pushed the Dow above 9,000, a threshold the index hadn’t passed since Nov. 10.
The top retail gainers included Retail Ventures Inc., ahead 36.4 percent to $1.35; Coldwater Creek Inc., 21 percent to $2.65; The Men’s Wearhouse Inc., 15.4 percent to $14.73; J. Crew Group, 11 percent to $13.81; Dillard’s Inc., 10.1 percent to $4.47; Target Corp., 9.6 percent to $38.32; Pacific Sunwear of California Inc., 9.5 percent to $2.07; Coach Inc., 6.2 percent to $20.90; Abercrombie & Fitch Co., 6.1 percent to $20.44; J.C. Penney Co. Inc., 6 percent to $21.82; Kohl’s Corp., 5.6 percent to $37.62, and The TJX Cos. Inc., 5.3 percent to $21.14.
Among the vendors gaining were Kenneth Cole Productions Inc., 20.2 percent to $10; Fossil Inc., 9.4 percent to $15.46, and True Religion Apparel Inc., 7.8 percent to $14.14.
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)