Shares of U.S. retail companies were sharply lower in earlytrading Wednesday as uncertainty about the credit markets and tonight’s Senatebailout vote weighed heavily on investors.
The Standard & Poor’sRetail Index dropped 2.1 percent in the first 40 minutes of trading, placing itat 354.85. That outpaced the 1.5 percent drop in the Dow Jones IndustrialAverage, which fell 158.34 points, or 1.5 percent, to 10,692,32 at the firsthour of activity.
Saks was off 3.7 percent to $8.91 while Macy’s andNordstrom dropped 2.7 percent and 2.5 percent, respectively, to $17.49 and$28.11. Among the other companies shedding market value early Wednesday wereCache (4.4 percent to $6.57), Bon-Ton Stores (3.7 percent to $2.82), Talbots(3.6 percent to $12.63), Retail Ventures (3.1 percent to $3.78), AnnTaylor (3.1percent to $20.01) and The Children’s Place (3 percent to$34.36).
Overseas markets were generally lower, with IT Holding dropping14.4 percent in trading in Milan. However, in London, Marks & Spencer movedup 6.6 percent.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18