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.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion