NEW YORK — Stocks fell once again Tuesday after a brief midday flirtation in positive territory.
After triple-digit declines in three consecutive sessions, the Dow Jones Industrial Average avoided a fourth straight 100-plus decline when it slipped 82.24 points to 7,702.34. However, with the drop, it fell 1.1 percent.
Retail stocks fared better as the S&P Retail Index notched up 0.27 points, or 0.1 percent, to 258.07. The Nasdaq Composite Index performed dismally, dropping 53.60, or 4.2 percent, to 1,229.05. The S&P 500 took a 22.14 point dip, or 2.7 percent, to finish the day at 797.71.
Department stores logged some of the more impressive gains of the day. Federated Department Stores moved up $1.01, or 3.1 percent, to $33.25, archrival May Department Stores Co. gained a more modest 65 cents, or 2.5 percent, to close at $26.74 and Nordstrom managed a 29 cent, or 1.7 percent, increase, to end the day at $17.60. Kohl’s picked up 97 cents, or 1.7 percent, to $57.70. While Dillard’s ended the day flat at $21.70, declines were registered by Neiman Marcus (down 37 cents, or 1.5 percent, to $24.88), Saks (down 6 cents, of 0.6 percent, to $10.21), J.C. Penney (down 40 cents, or 2.6 percent, to $15.27) and Sears (down 15 cents, or 0.4 percent, to $42.60).
Among mass merchants, Wal-Mart Stores was up 50 cents, or 1.1 percent, to $45.10, and Factory-2U-Stores was up 79 cents, or 7.1 percent, to $11.99. With its flagship discount division posting comparable-store sales that were slightly below plan last week due to weakness in men’s wear, jewelry, accessories and garden items, Target Corp. shares dropped 59 cents, or 1.9 percent, to $30.46.
Off-pricers have held up fairly well under the brutal market conditions of the past few months, but neither market leader TJX Cos. nor number-two Ross Stores shared in the minor upward movement Tuesday. TJX traded down 53 cents, or 3.2 percent, to close at $16.02, and Ross finished the day down 76 cents, or 2.1 percent, at $36.10.
Specialty-store gainers included American Eagle Outfitters (up 25 cents, or 1.5 percent, to $16.69), Aeropostale (up 40 cents, or 2.2 percent, to $18.95), Cache (up 12 cents, 0.8 percent, to $14.64) and J. Jill Group (up 75 cents, or 0.8 percent, to $21.50). However, Gap, Abercrombie & Fitch and Ann Taylor were off 0.3 percent, 0.8 percent and 0.9 percent, respectively.
@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