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.
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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