Retail stocks came back from an extended weekend with gains beyond those of the major indices.
The S&P 500 Retailing Industry Group gained 0.6 percent to end the day at 872.96, outpacing the Dow Jones Industrial Average, which gained 0.3 percent to 16,449.25, and the S&P 500, ahead 0.4 percent to 1,871.89. The S&P 500 and its retail subset enjoyed their fifth consecutive session of gains as Wall Street prepared for earnings reports, including VF Corp.’s first-quarter numbers on Friday.
The Conference Board reported its index of leading economic indicators rose 0.8 percent in March, following gains of 0.5 and 0.2 percent in February and January, respectively.
Trading in the U.S. resumed after a three-day hiatus beginning on Good Friday but markets in Europe remained closed Monday.
Among U.S.-based retail, fashion and beauty firms tracked by WWD, J.C. Penney Co. Inc. registered the day’s largest increase, picking up 9.2 percent to rise to $8.19, its first close above $8 since April 10, the day before it slid 9.6 percent to close at $7.70. American Apparel Inc. was up 8.5 percent to 54 cents while Revlon Inc. shares gained 6 percent to $28.15.
Lands’ End Inc. shares rose 4.8 percent to $27.36 while former parent Sears Holdings Corp. was up 3.3 percent to $39.60.
Shares of Michael Kors Holdings Ltd. were up 0.8 percent to $90.68. After the markets closed, Lone Pine Capital LLC, the Greenwich, Conn.-based fund headed by Stephen Mandel, disclosed that it owned 11.3 million shares of Kors stock, or 5.5 percent of those outstanding. Lone Pine also has sizable positions in Gap Inc. and Dollar General Corp. It reported a 6.1 million share stake, or 3 percent of the total, in February.
Among a number of stocks losing ground were Birks Group Inc., down 5.9 percent to $1.17; Lululemon Athletica Inc., off 5.1 percent to $48.07, and specialty retailer Cache Inc., which fell 3.4 percent to $3.12.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews