U.S. retailers got a late Christmas gift today as retail shares continued their upward trajectory despite mixed results for the season.
The S&P 500 Retailing Industry Group rose 0.8 percent to 942.14, a record close for the index. The Dow Jones Industrial Average advanced for the sixth consecutive trading session and also ended the day in record territory with a 0.8 percent increase to 16.479.88. The S&P 500 rose a more modest 0.5 percent at 1,842.02 but still landed at a new record level.
While retailers were focused on their holiday receipts and residual inventories, investors were reassured by a decline in weekly applications for state unemployment benefits.
Initial reports on the holiday season suggested modest growth for the November-December period. MasterCard SpendingPulse pinned the increase in seasonal sales at 2.3 percent, with apparel eking out gains provided by strength in the children’s wear classification. Jewelry was the leading classification for the season, the company said.
Target Corp.’s shares picked up 1.3 percent to $62.48 even as calls for scrutiny into its recent security breach spread. Columbia Sportswear Co. logged a 3.1 percent increase in its stock price, to $79, as reports continued to pinpoint outerwear as one of the strongest categories of the season. J.C. Penney Co. Inc. saw its shares add 2.5 percent, to $8.97, while Zale Corp. enjoyed a 2.4 percent jump to $16.53 on jewelry’s seasonal strength.
Among a handful of issues with declines were specialty retailers Pacific Sunwear of California, down 6.2 percent to $3.35, The Wet Seal Inc., down 2.7 percent to $2.57; Christopher & Banks Corp., down 1.8 percent to $8.96, and Tilly’s Inc., down 1.5 percent to $11.05.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over the top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty