The WWD Global Stock Tracker registered a 0.1 percent gain in its first day of operation, moving to 100.10 from its baseline of 100.
The largest gains among the 100 international fashion, retail and beauty issues now tracked by WWD came from Elizabeth Arden Inc. and Inter Parfums Inc., which rose 3.3 and 2.9 percent, respectively, to close at $21.30 and $29.49. Under Armour Inc. and Kate Spade & Co. finished nearly as strongly, with gains of 2.9 percent to end the day at $59.91 and $38.12, respectively. Click Here for the WWD Global Stock Tracker >>
Among issues pulling back on the day were Quiksilver Inc., down 6.4 percent to $3.36; Safilo Group SpA, down 5.1 percent to $15.33; Youngor Group Co., down 2.5 percent to 6.69 yuan, or $1.08 at current exchange; and Shanghai Metersbonwe Fashion & Accessories, down 2.4 percent to 8.17 yuan, or $1.32.
Shares of Coach Inc. were off 1.4 percent to $34.50 after analysts at Buckingham Research downgraded the stock to “underperform” from “neutral” and cut their price target to $28 from $32.
A number of British retail stocks fell in the day’s trading, after the British Retail Consortium reported late Tuesday that prices in British shops fell 1.8 percent in June compared to the same month last year. That marked the biggest annual drop in prices since 2006, the BRC said.
That contributed to a 2.4 percent dip in shares of Marks and Spencer Group, which closed at 4.18 pounds, or $7.15.