Retail stocks resisted most of a late-afternoon sell-off on Wall Street Monday, finishing ahead 0.5 percent while the major indices gave up most of their advances from earlier in the day.
In its fifth consecutive positive session, the S&P Retail Index ended Monday trading at 497.18, up 2.59 points, and in the last hours of trading came within 0.07 ticks of the 500 mark, a point last visited on Sept. 19, 2007. The index last closed above 500 on July 24 of that year.
Meanwhile, the Dow Jones Industrial Average, up as high as 11,258.01 in morning trading, eked out its sixth-straight winning day with just a 0.75 point advance to 11,205.03. The S&P 500, most closely tied to financial stocks and the uncertainty currently surrounding them, fell 5.23 points, or 0.4 percent, to 1,212.05.
Despite the upward drift in retail equities, some of the biggest movers among the 172 issues tracked by WWD were women’s specialty stores that lost ground. Charming Shoppes Inc. descended 5.1 percent to $5.98; Bebe Stores Inc., 4.7 percent to $9.37, and American Apparel Inc., 4.1 percent to $3.25, with smaller losses registered by Coldwater Creek Inc., Pacific Sunwear of California Inc., Chico’s FAS Inc. and Hot Topic Inc. Among men’s wear merchants, strong gains were registered by Casual Male Retail Group Inc., up 4.2 percent to $4.49, and The Men’s Wearhouse Inc., up 3.5 percent to $27.18.
European markets advanced on Monday as the CAC 40 in Paris picked up 1.2 percent to 3,997.39 after scaling the 4,000 mark earlier in the day and Frankfurt’s DAX also picked up 1.2 percent, ending the session at 6,332.10. London’s FTSE 100 was up 0.5 percent to 5,753.85.
The SSE Composite Index dropped 0.5 percent to 2,969.50 in Shanghai, but Tokyo’s Nikkei 225 scored a robust 2.3 percent gain to close at 11,165.79. In Hong Kong, the Hang Seng Index was up 1.6 percent to 21,587.06.
@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