Retail stocks roared back Tuesday on signs of mounting economic vitality and indications e-commerce might supply some of the consumer spending energy brick-and-mortar retail formats appear to lack.
Bouncing back from a 0.5 percent decline Monday, the S&P Retail Index began the month with a 7.28 point, or 1.8 percent, advance to 409.45 after falling as low as 397.49 in Monday’s session. The retail index outperformed the major indices, but all registered gains of 1.2 percent or more. The Dow Jones Industrial Average rose 1.2 percent to 10,471.58.
Among apparel, beauty and retail issues, no publicly held firm did better than Guess Inc., shares of which added $4.77, or 12.9 percent, to close at $41.82. After the market closed Monday, the Los Angeles-based denim and sportswear firm surprised analysts by reporting an increase in third-quarter profits and projecting fourth-quarter earnings more than 11 cents a diluted share higher than the existing consensus estimate. Also registering strong gains on Tuesday were Limited Brands Inc., up 5.8 percent to $17.55; Stage Stores Inc., 5.4 percent to $12.74; Jos. A. Bank Clothiers Inc., 4.9 percent to $42.80, and The Talbots Inc., 4.5 percent to $6.91.
The Institute for Supply Management reported Tuesday that U.S. manufacturing activity escalated for the fourth straight month in November, although at a slower rate than in October. ISM’s index fell to 53.6 percent last month, down from 55.7 percent in October. Ratings of more than 50 percent indicate overall growth in production. Meanwhile, the National Association of Realtors said pending sales of existing homes were up 3.7 percent in October, the ninth straight month of increases.
Stocks also benefited from weakness in the dollar, which lifted commodities prices, and a widely held sense that, with aid from Abu Dhabi being negotiated, peripheral damage from the Dubai debt crisis would be held to a minimum.
“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
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast