Retail stocks continued to rise Wednesday, perking up 0.4 percent, as the Dow Jones Industrial Average solidified its position above 11,000 and the S&P 500 continued to advance beyond 1,200.
The S&P Retail Index rose 1.97 points to 482.22, marking the sector’s sixth increase in as many sessions. The Dow increased 0.2 percent, or 21.46 points, to 11,144.57 and the S&P 500 advanced 0.1 percent, or 1.02 points, to 1,211.67. All three indexes hit new 52-week highs Thursday.
Retail gainers for the day included Chico’s FAS Inc., up 3.4 percent to $16.03; Dillard’s Inc., 2.2 percent to $28.10, and Limited Brands Inc., 2 percent to $27.56.
Stocks have been rallying on signs of stronger sales and a turn in the employment market, but a weekly Labor Department report on initial claims for unemployment amounted to a step back Thursday.
Initial claims rose unexpectedly for the second straight week, increasing by 24,000 last week to a seasonally adjusted 484,000. Economists were looking for a week-to-week drop of 20,000.
China said its economy grew 11.9 percent in the first quarter, versus a year earlier, and the value of the country’s imports and exports shot up 44.1 percent to $617.85 billion.
Still, the SSE Composite Index dipped 0.04 percent to 3,164.97 in Shanghai Thursday. Total retail sales of consumer goods in China advanced 17.9 percent for the quarter to 3.64 trillion yuan, or $532.1 billion at current exchange.
“Rapid growth was registered in emerging areas for consumption,” said Li Xiaochao, a spokesman for China’s National Bureau of Statistics of China. Overall consumer prices rose 2.2 percent for the quarter even as apparel prices fell 0.9 percent in the country.
In other Asian trading, the Nikkei 225 gained 0.6 percent to 11,273.79 in Tokyo and the Hang Seng Index inched up 0.2 percent to 22,157.82 in Hong Kong.
European investors pushed the FTSE 100 up 0.5 percent to 5,825.01 in London and the CAC 40 ahead 0.2 percent to 4,065.65 in Paris.
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
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye