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.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)