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.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)