Retail shares staged a muscular rally Friday despite new evidence of a slowdown in consumer spending, putting an exclamation point on a strong week at the end of the market’s worst month in more than two decades.
A 4.2 percent increase on Friday landed the Standard & Poor’s Retail Index just above the 300 mark, 21.6 percent ahead of their finish last Friday but 17.1 percent off their 362.44 resting point on Sept. 30.
Double-digit percentage gains, such as Dillard’s 15.1 percent pickup to $5.33, were commonplace, giving a number of retailers a chance to recover recent lost ground. Among the biggest gainers were Christopher & Banks (up 19.2 percent to $5.22), Charlotte Russe (up 14 percent to $8.45) and department store operators Bon-Ton Stores (up 13.7 percent to $2.24), Nordstrom (up 12.8 percent to $18.04) and J.C. Penney (up 11.3 percent to $23.92).
Friday’s trading session followed a familiar pattern as a strong afternoon rally was nearly erased in the final hour of the session.
The Dow Jones Industrial Average, above 9,450 just after 3 P.M., finished the day at 9,325.01, up 1.6 percent. It rose 11.3 percent during the week but fell 14.1 percent during the month.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
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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)