Retail shares managed to hold on to some of their early gains Thursday, ending the day with a 2.3 percent rise.
The Standard & Poor’s Retail Index increased 6.34 points to 288.55, but had gone as high as 296.09 earlier in the day.
Retail stocks outperformed the market overall, which rose despite a government report indicating that weak consumer spending contributed to a contraction in the economy. The country’s gross domestic product decreased at an annual rate of 0.3 percent during the third quarter, according to advance numbers from the Commerce Department, which are subject to revision.
The Dow Jones Industrial Average gained 2.1 percent, or 189.73 points, to close at 9,180.69.
Broadline retailers picking up steam included Kohl’s Corp., up 9.1 percent to $33.86, and Macy’s Inc., up 5.7 percent to $11.66.
Not everyone joined the run-up. Target Corp. shares slid 5.7 percent to $38.39, giving up most of its gains enjoyed Wednesday after activist investor William Ackman proposed spinning off the company’s real estate. Wal-Mart Stores Inc., a Dow component stock, shed 0.5 percent of its value to close at $54.75.
Specialty store stocks perking up for the day included Charming Shoppes Inc., up 14.7 percent to $1.48; Mothers Work Inc., 12.2 percent to $9.38; Pacific Sunwear of California Inc., 7.2 percent to $3.41; New York & Company Inc., 5.2 percent to $2.85, and J. Crew Group Inc., 4.1 percent to $19.36.
Shares of apparel vendors were mostly up for the day with increases from Kenneth Cole Productions Inc., 11.8 percent to $13.15; Liz Claiborne Inc., 6 percent to $7.66; Polo Ralph Lauren Corp., 5 percent to $44.29, and Phillips-Van Heusen Corp., 3.8 percent to $22.50. VF Corp.’s stock dipped 0.1 percent to $54.93.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty