Retail shares took an early hit as a number of chains, including Tiffany & Co., Ascena Retail Group Inc. and Aéropostale Inc., gave disappointing holiday updates.
On the plus side, Urban Outfitters Inc. saw sales, including full price sales, perk up. At 10 a.m. on Wall Street, shares of Tiffany were down 5.4 percent to $59.82, Ascena was down 11.7 percent to $16.44 and Aéropostale was off 10.8 percent to $12.15. Shares of American Eagle, which held its own for the quarter, dipped 4.8 percent to $19.65.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"