Retail shares pulled back on Wednesday as U.S. equity markets endured a small skid.
The S&P Retail Index was down 1.75 points, or 0.4 percent, and the Dow Jones Industrial Average gave back 20.26 points, or 0.2 percent, to close at 10,038.38. Investors reacted to Federal Reserve Board chairman Ben Bernanke’s testimony before the House Financial Services Committee that the Fed would have to tighten credit “at some point.”
What they did not react to were government reports — including Commerce Department findings on retail sales and business inventories — which were not released because of the snowstorms that have brought the nation’s capital to a near standstill.
Shares of Gildan Activewear Inc. rose $1.15, or 5.1 percent, on the first trading day after the company said its first-quarter profits increased more than sixfold on improved manufacturing efficiency and higher demand for its activewear and underwear. Liz Claiborne Inc. finished the day with a gain of 21 cents, or 3.9 percent, to $5.57.
Dallas-based Zale Corp., which late Tuesday said it had hired investment banking firm Peter J. Solomon Co. to assist in “identifying and analyzing alternatives to maximize its financial flexibility,” saw its shares slide 5 cents, or 2.6 percent, to $1.91.
Overseas markets continued to be lifted by growing optimism about a fix for the debt crisis in Greece, with Germany and France now expected to come to the aid of their European Union neighbor. In Paris, the CAC 40 rose 22.85 points, or 0.6 percent, to 3,635.61, while London’s FTSE 100 was up 20.15 points, or 0.4 percent, to 5,131.99.
China’s SSE Composite Index rose 33.66 points, or 1.1 percent, to 2,982.50 as Hong Kong’s Hang Seng Index was up 131.94 points, or 0.7 percent, to 19,922.22. Tokyo’s Nikkei 225 was up 31.09 points, or 0.3 percent, to 9.963.99.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews