NEW YORK — Retail stocks took a nasty spill Monday after weekly sales reports signaled a rough September.It was a tough day for the markets overall with the Standard & Poor’s retail index off 10.71 points, or 3.6 percent, to 283.76. Other indices dropped less dramatically: the Dow Jones Industrial Average sank 113.87 points, or 1.4 percent, to close at 7,872.15, and the broader Standard & Poor’s 500 slid 11.69 points, also 1.4 percent, to 833.70. The Nasdaq Composite staggered 36.16 points, or 3 percent, to 1,184.93 — its first closing below 1,200 since September 1996.Wal-Mart Stores Inc. said after last week, its total comparable-store sales for September should be near the low end of its targeted 4 to 6 percent uptick. Growth in average ticket exceeded the growth in traffic for the week. Federated Department Stores Inc., on its Web site, said September comps "will be at best toward the lower end of our expected 3 to 5 percent increase." This goal, though, may still prove too high as the firm’s results "may fall slightly below that range." Sears, Roebuck & Co. said its same-store sales continued to slide in the high single-digit range, while J.C. Penney Co.’s department stores continued on their path toward a flat to a slightly higher comp showing for the month.Broadline retailers watching their shares descend included Sears, down $2.69, or 6 percent, to $42.12; Dillard’s, $1.44, or 5.9 percent, to $23.15; Nordstrom, $1.05, or 5.1 percent, to $19.55; May Department Stores, $1.20, or 4.6 percent, to $24.74; Federated, $1.29, or 3.7 percent, to $33.50; Kohl’s, $2.10, or 3 percent, to $67.45 and J.C. Penney, 1 cent, or 0.1 percent, to $18.25.Discounters were also pinched with Target down $1.70, or 5.1 percent, to $31.96 and Wal-Mart off $2.10, or 3.8 percent, to $52.60.Specialty stores enduring retreating stock prices included Chico’s, down $1, or 5.6 percent, to $17; Urban Outfitters, $1.38, or 5.5 percent, $23.59; Talbots, $1.56, or 4.8 percent, to $31.20; Ross, $1.94, or 4.9 percent, to $37.56; Abercrombie & Fitch, $1.07, or 4.6 percent, to $22.16; Pacific Sunwear, $1.03, or 4.3 percent, to $22.76; Wet Seal, 50 cents, or 4.3 percent, to $11.05, and Bebe, 57 cents, or 4 percent, to $13.63."The stock market is having a negative impact on consumer psychology," which, in turn, curtails spending and further erodes the markets, said A.G. Edwards & Sons analyst Robert Buchanan. "The concern here is really that the cycle continues unabated and Christmas ends up even weaker than we’d thought going into this."
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim