Ending strings of four consecutive losing weeks, U.S. retail stocks rose 1.7 percent last week and the Dow Jones Industrial Average advanced 0.9 percent.
The S&P Retail Index inched up 0.04 percent, or 0.14 points Friday, to 399.50. Of 172 publicly held firms tracked by WWD, 123 had increases for the week versus 39 with decreases and 10 that were unchanged.
The Dow dipped 0.4 percent, or 44.05 points Friday, to 10,099.14. The Dow started off the week with its first close below 10,000 since November as investors fretted that Greece’s debt woes could spread elsewhere. European leaders stepped forward Thursday and said they would “take determined and coordinated action, if needed, to safeguard financial stability in the euro area as a whole.”
And Europe remained in focus on Friday as the euro area turned in only a 0.1 percent rise in fourth-quarter gross domestic product, less than the 0.3 percent bump economists anticipated.
Still, it was an up week for European markets. The FTSE 100 rose 1.6 percent to 5,142.45 in London and the CAC 40 advanced 1 percent to 3,599.07 in Paris.
In China, the country’s financial institutions learned Friday they would have to keep more funds on reserve in the People’s Bank of China. It was the second 0.5 percentage point boost to the reserve deposit ratio from the central bank this year.
Such an increase is expected to have a cooling impact on the country’s economy since financial firms have less to lend out as reserve requirements rise.
In Asia last week, investors pushed the Nikkei 225 up 0.4 percent to 10,092.19 in Tokyo, the Hang Seng Index ahead 3.1 percent to 20,268.69 in Hong Kong and the SSE Composite Index up 2.7 percent to 3,018.12 in Shanghai.
In the U.S., Marsico Capital Management LLC reported to the Securities and Exchange Commission that it boosted its stake in Polo Ralph Lauren Corp. to 3.1 million shares, or 5.6 percent of those outstanding, as of Dec. 31, up from 2.5 million on Sept. 30. The additional shares lifted Marsico’s stake in the firm above 5 percent, necessitating a regulatory filing with the SEC.
At the end of last year, Marsico also held positions in Nordstrom Inc., Kohl’s Corp., J. Crew Group Inc., Nike Inc. and Under Armour Inc. in its $41.73 billion portfolio, according to its Form 13F-HR filing last week.
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