Retail shares were on the rise again Wednesday, outpacing the market with a 2.9 percent gain.
The Standard & Poor’s Retail Index added 8.01 points to cross the finish line at 286.58 — still down 35.7 percent from its 52-week high. The index had enjoyed five consecutive sessions of increases before declining on Tuesday.
The Dow Jones Industrial Average spent most of the day in positive territory and ultimately advanced 0.8 percent, or 70.09 points, to 8,761.42 as lawmakers continued to hammer out a rescue plan for automakers.
AnnTaylor Stores Corp. proved to be the retail winner in the day’s stock rally, rising 21.9 percent to $6.40 despite no revelations from the company. Charming Shoppes Inc. managed a 17.7 percent rise to $1.66, also without any news disclosures.
Other specialty stores showing strong, but lesser gains included Destination Maternity Corp., formerly Mothers Work Inc., up 7.8 percent to $8.47; Abercrombie & Fitch Co., 6.6 percent to $21.22; The Dress Barn Inc., 6.1 percent to $9.35; Coach Inc., 6 percent to $21.24, and Zale Corp., 5.6 percent to $4.17.
Investors didn’t shy away from selling. Such was the case for Frederick’s of Hollywood Group Inc., which reported wider first-quarter losses. The lingerie retailer-manufacturer saw shares fall 17.9 percent to 23 cents. Gottschalks Inc. shares took a 33.7 percent drubbing to land at 30.5 cents. Shares of The Talbots Inc. slid 10 percent to $2.17.
On the vendor side, investors favored shares of Liz Claiborne Inc., which advanced 16.2 percent to $3.02.
Among the other vendors on the rise were Quiksilver Inc., up 11.2 percent to $1.59; Perry Ellis International Inc., 10.9 percent to $6.90; Jones Apparel Group Inc., 6.4 percent to $6.19; Columbia Sportswear Co., 4.6 percent to $36.70, and Kenneth Cole Productions Inc., 3.9 percent to $9.53.
On the other side of the ledger, Oxford Industries Inc.’s stock declined 14.4 percent to $5.67 after the company posted lower third-quarter earnings and reduced its full-year profit guidance.
“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
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast