Retail stocks fell 0.9 percent Tuesday — the fifth straight decline for the sector poised to begin unveiling first-quarter results today when Macy’s Inc. issues its report card to investors.
The S&P Retail Index fell 2.98 points to 324.89 as the Dow Jones Industrial Average rose 0.6 percent, or 50.34 points, to 8,469.11.
The Dow might have beaten the sector on Tuesday, but retail shares are still several lengths ahead for the year. So far in 2009, retail stocks are up 16.3 percent while the Dow has fallen 3.5 percent. After falling 0.1 percent Tuesday to 908.35, the S&P 500 is ahead 0.6 percent for the year.
Today the retail world’s focus will be on Macy’s, which analysts expect to post a loss of 20 cents a share, a deterioration from the 2 cents worth of red ink a year earlier, excluding charges. Shares of Macy’s fell 2.7 percent to $12.35 Tuesday. Liz Claiborne Inc., a key supplier to department stores that will also post results before the markets open, saw its stock fall 6.5 percent to $5.77. Claiborne is expected to post losses of 23 cents a share, following adjusted earnings of 28 cents a year earlier.
Other decliners Tuesday included Dillard’s Inc., down 6.1 percent to $7.74; Saks Inc., 5.1 percent to $3.95; AnnTaylor Stores Corp., 5 percent to $7.24, and J.C. Penney Co. Inc., 3.4 percent to $27.92. Among the more prominent advancers was Fossil Inc., up 9.2 percent to $21.55 after posting better-than-expected first-quarter results, and Swank Inc., which was up 47.5 percent to $1.49 in over-the-counter trading after reporting a reduced first-quarter loss on a 3 percent revenue decline.
Fashion stocks in Europe had a mixed day with BulgariSpA down 5.1 percent to 4.03 euros, or $5.49; PPR off 2.1 percent to 58 euros, or $78.97, and LVMH Moët Hennessy Louis Vuitton inching up 0.03 percent to 59.02 euros, or $80.36.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)