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.European markets were closed.
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)
“On a personal level, it’s my vision to create a really different idea with their look to be at the epitome of women’s fashion in South Korea – to create a new milestone,” said stylist @chochowon on dressing K-pop’s most fashionable girl group, @blackpinkofficial. WWD’s @mistywhitesidell sat down with Won ahead of the group’s new album release, “Square Up,” which is out today. Read the full interview on WWD.com. #wwdfashion #blackpink_squareup #blackpink
For @ralphlauren, 2018 is a reason to celebrate: It marks the brand’s 50th year in business. Last year’s chauffeured show in Bedford, NY featuring his vintage car collection may have seemed like the big celebration to show-goers, but they were wrong. The official celebration will be held on September 7 during #NYFW. Get all the details on WWD.com. #wwdfashion (📷: @giovanni_giannoni_photo)