The WWD Global Stock Tracker was down 0.7 percent as markets around the world pulled back on concerns about European banks and U.S. discretionary spending.
The WWD index ended the day at 99.44, pulling back from its 100.09 finish on Wednesday.
U.S. markets managed to recover from larger losses earlier in the day, but the Dow Jones Industrial Average closed down 0.4 percent to 16,915.07, erasing much of its morning declines of over 100 points, while the S&P 500 Retailing Industry Group was off 1.2 percent to 891.55 as a small group of retailers in the U.S. reported sales for May that were up a bit less than expected.
The largest gain among stocks in WWD’s sample came from American Apparel Inc., ahead 21.3 percent to $1.03 following agreement among its board and Standard General that assuaged fears of a default crisis in the wake of Dov Charney’s suspension as chief executive officer. Burberry Group shares advanced 3.5 percent to 14.68 pounds, or $25.19 at current exchange, on strong first-quarter sales that were reported along with a reduction in its full-year guidance.Hong Kong’s Trinity Ltd. fell 3.2 percent to 1.93 Hong Kong dollars, or 25 cents, while Next gained 1.8 percent to close at 64.55 pounds, or $110.75.
Among issues in decline Aeeffe was off 5.9 percent to 1.19 euros, or $1.63; Chow Tai Fook Jewellery Group off 4.6 percent to 11.30 Hong Kong dollars, or $1.46; Anta Sports Products Ltd. off 3.6 percent to 12.46 Hong Kong dollars, or $1.61, and G-III Apparel Group Ltd. off 3.2 percent to $77.78.
While attention in Europe was focused on Portuguese bank Banco Espirito Santo, that concern raised fears of possible issues at other euro-zone banks.
A room full of toiles at the haute couture atelier in the Dior exhibition at Les Arts Décoratifs, open in Paris since July 5. This is just one of three major exhibitions that have been timed to coincide with the house's 70th anniversary. See the rest of the exhibits, plus read WWD's look into the iconic brand's history. Link in bio. #wwdfashion (📷: @dominiquemaitre)
For spring, Pamplemousse's Danica Zheng presented her signature slip dresses attached to a white T-shirt along with floral windbreakers, off-the-shoulder cotton blouses and more. For more highlights from the New York trade shows, go to WWD.com. #wwdfashion
The Green Carpet Fashion Awards closed out Milan Fashion Week yesterday. The fashion industry flocked to the event, showing its efforts to support and spread the message of sustainability. Supermodel Gisele Bündchen said "if each one of us took at least one step is this direction, there is no saying how much could be done." #wwdeye #wwdfashion #mfw (📷: Lodovico Colli di Felizzano)
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)