U.S. retail stocks resumed their winning ways last week, eking out a 0.2 percent increase despite a down day on Friday.
The S&P Retail Index declined 0.6 percent Friday to 332.21, but still finished above the 331.66 mark at which it concluded the previous week.
However, in a reversal of trends of the last two months, the retail equity number didn’t keep pace with the major indices. The Dow Jones Industrial Average was up 2 percent on Friday and finished the week ahead 4.4 percent at 8,574.65, while the S&P 500 rode a 2.4 percent Friday rise to a 5.9 percent five-day gain, ending the week at 929.23. The Nasdaq Composite Index on Friday advanced 1.3 percent, ending the week with a 1.2 percent gain at exactly 1,739.
Retail stocks had advanced for seven consecutive weeks before finishing down 2 percent the week of April 27.
Among the best performers last week were Eddie Bauer Holdings Inc., whose stock more than doubled to 71 cents, even after chief executive officer Neil Fiske declined to comment on published reports the firm was in talks with potential buyers, Gordon Brothers and Hilco Consumer Capital.
Hot Topic Inc. endured a 15.8 percent drop during the week, ending at $9.77, after it failed to live up to analysts’ expectations for April same-store sales, sparking concern that its success with “Twilight”-themed merchandise might be running out of steam. Shares of Saks Inc., which moved as high as $5.40 the week of April 27, eased 9.8 percent last week to $4.53.
Overseas markets enjoyed a strong week, led by a 12 percent increase in Hong Kong’s Hang Seng Index, which closed at 15,520.99. Tokyo’s Nikkei 225 was up 5.1 percent for the week, ending at 8,977.37.
The Paris Bourse was closed Friday for a national holiday, but the CAC 40 closed Thursday at 3,312.59, up 4.8 percent for the week. London’s FTSE 100 was up 5.2 percent for the five days, to 4,462.09, including a 1.4 percent run-up on Friday.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@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)