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.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast