Retail stocks moved lower Tuesday, ending a five-day winning streak and lowering stores’ market capitalization for only the second time this month.
The Standard & Poor’s Retail Index ended the day down 8.52 points, or 3 percent, at 278.57, as all major indices moved lower on concerns about earnings outlooks and continuing, intensifying job cuts.
Earlier in the day, European stocks, picking up on the buoyant mood established on Wall Street on Monday, moved higher. In Paris, PPR advanced 11.5 percent, and LVMH Moët Hennessy Louis Vuitton gained 6.6 percent as the CAC 40 was up 1.6 percent. In London, Burberry Group plc gained 6.3 percent as the FTSE 100 expanded 1.9 percent.
Gains were considerably harder to come by in the U.S., however, as retailers and vendors alike took shots to their shares after five straight positive sessions. Perry Ellis International Inc. sustained an 18.3 percent drop, closing at $6.22, and two specialty chains, Wet Seal Inc. and Urban Outfitters Inc., declined 13.1 percent and 11.6 percent, respectively. New York & Company Inc. shrugged off sectoral weakness with a 9.9 percent gain. Confronted on Monday by another round of pressure from activist shareholders Barington Capital Group and Clinton Group, Dillard’s Inc. dropped 11 percent, while Saks Inc. shares were dealt an 8.9 percent blow.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty