Although it is too soon to tell if the worst of the credit crisis may be over, Wall Street rallied on Tuesday following upbeat news in the banking sector, a retreat in commodities prices and better-than-expected manufacturing data.
The Dow Jones Industrial average gained more than 390 points to close at 12,656.36, while the broader S&P 500 jumped 3.6 percent to 1,370.18. The S&P Retail Index climbed 5.8 percent to hit 407.10.
Leading the retailers pack was Talbots Inc., which earlier in the day released a plan to turn around its flailing business. Talbots spiked 11.4 percent to close at $12.01.
Midtier department stores also saw steep rebounds. After slashing earnings guidance last week, J.C. Penney rose 6.4 percent to $40.12, while Kohl's Corp. increased 6.3 percent to $45.59. Macy's Inc. grew 7 percent to $24.67, and Sears Holdings Corp. was up 7.2 percent to end the day at $109.47.
In the specialty sector, Lululemon Athletica Inc. shot up 11 percent to $31.57 on analysts' reports, which said they do not expect to see a slowdown at the athletic apparel retailer when it reports fourth-quarter earnings on Wednesday.
J. Crew Group increased 7.4 percent to $47.42, while teen retailer Abercrombie & Fitch rose 4.9 percent to $76.69. Urban Outfitters increased 5.2 percent to $32.99, and Limited Brands was 6.4 percent higher to $18.20.
Retail giant Wal-Mart Stores gained 2.7 percent to $54.08, while rival Target increased 5.1 percent to close at $53.27.
Department store Gottschalks was one of the rare decliners of the day, sinking 7 percent to $2.78, while Wilsons The Leather Experts fell 33.4 percent to end the day at 14 cents.
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)