Retail stocks took a drubbing Monday, sliding 0.8 percent on what was generally an up day for the markets. But a number of fashion firms, Phillips-Van Heusen Corp. included, raised quarterly profit guidance, noting business has been better than expected.
The S&P Retail Index fell 3.25 points to 413.64, while the Dow Jones Industrial Average advanced 0.4 percent, or 45.80 points, to 10,663.99 as investors digested a rise in Chinese exports and anticipated fourth-quarter results from aluminum maker Alcoa Inc., which reported a smaller loss after the markets closed.
A digest of other market action Monday:
• PVH on the Rise: The shirt producer and owner of Calvin Klein said its fourth-quarter profits would rise to a range of 52 cents to 54 cents a year ago, ahead of the 38 cents to 42 cents previously expected. Revenues are slated to come in at $603 million to $608 million, a rise of 7 percent to 8 percent from the adjusted results of a year ago. PVH said royalty revenue from the Calvin Klein brand would rise at least 10 percent for the quarter. Prior to the new projections, shares of PVH slid 0.2 percent to $43.50.
• Lundgren’s Stock Sale: Terry Lundgren’s past efforts are paying off. The Macy’s Inc. chairman, president and chief executive officer plans to sell 300,000 shares of company’s stock. The stock was initially given to him as options under the firm’s 1995 executive equity incentive plan, according to a filing with the Securities and Exchange Commission. Lundgren exercised the options at a price of $16.22 in 2000. Subtracting that from Monday’s closing price of $16.62, Lundgren would net about $120,000.
• Dress Barn’s Jump: Dress Barn Inc. raised its profit guidance for the year ending July 31 by 5 cents to a range of $1.40 to $1.50 a diluted share. The stock dipped 1.8 percent to $24.47.
• Caché’s Counter-trend: Caché Inc. said its fourth-quarter sales were stronger than planned, at $64 million to $65 million, but markdowns ate away at the bottom line and adjusted earnings per diluted share are slated to come in at 1 cent to 3 cents, well below the 12 cents to 15 cents previously projected. Prior to the update, the stock rose 4.6 percent to $4.74. Caché also said Lusia Moskvicheva joined the firm as senior vice president and head designer.
• Delta’s Art Gun: Delta Apparel Inc. finalized its acquisition of on-demand graphics firm Art Gun Technologies LLC and said profits for the second quarter ended Dec. 26 would increase to 9 cents to 11 cents a diluted share, up from 7 cents a year earlier. The stock advanced 6 percent to $11.66.
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