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.
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion
A grooming moment between @tanfrance and @antoni last night at the The LGBT Community Center Trailblazer Awards honoring Anna Wintour, Ricky Martin and more. See more photos at WWD.com #wwdeye (📷: @lexieblacklock)
“It was a very surreal feeling. It wasn’t like we were in the studio together coming up with it — it’s more like he discovered it and loved it. I didn’t let myself get my hopes up, but then it happened it was very exciting,” said singer-songwriter @nombe on discovering that @pharrell would be using his song, “Cant Catch Me” on his HBO documentary series “Outpost.” The German-born singer — named Noah MacBeth — talked to WWD about feminism, using art as a platform for political expression and personal style. Read more on WWD.com #wwdeye (📷: @jilliansollazzo)
This season, denim is going west – in influence. Brands like @fathersdaughterla (pictured here), @tommyhilfiger Jeans, @levis and more are opting for raw, top-stitching styles. (Styled by @thealexbadia; 📷: @ryanplett)