The WWD Global Stock Tracker managed its second consecutive weekly gain Friday despite a loss for the day that reflected ongoing uncertainties ranging from international hot spots like Ukraine and Iraq to the tenor of consumer sentiment.
The tracker ended the week at 98.06, 0.4 percent below its finish on Thursday but 0.6 percent above its end point on Aug. 8. The monitor of 100 publicly held fashion, luxury, retail and beauty stocks around the world was inaugurated, and set at its baseline level of 100, on July 8.
WWD’s stock sample underperformed major international indices for the week, including the S&P 500 Retailing Industry Group, which rose 1.5 percent to 894.87 versus the Dow Jones Industrial Average’s 0.7 percent increase to 16,662.91. Overseas, London’s FTSE 100 was up 1.9 percent to 6,567.36 while Hong Kong’s Hang Seng Index turned in a 2.6 percent increase for the week to close at 24,331.41.
Much of the focus for the week was on the start of the second-quarter earnings reports of major U.S. retailers. Dillard’s Inc. registered the largest decline of all 100 issues on the tracker Friday, dropping 8.2 percent to $106.11 after reporting lower earnings and sales that fell below earnings expectations. The second largest drop was from Nordstrom Inc., off 5.2 percent to $65.11 on the company’s Thursday evening report that included slower-than-anticipated sales growth.
Even J.C. Penney Co. Inc., which reported a far smaller-than-anticipated loss late Thursday, felt the sting of investor doubt about consumer spending as shares were off 2.5 percent to $9.50.
This week, the process of retailers’ quarterly reports continues with Target Corp. and L Brands Inc. due to release results on Wednesday and a long list of retailers — highlighted by firms including Gap Inc., Sears Holdings Corp., The Bon-Ton Stores Inc. and the first of the major teen retailers to provide a performance update, Aéropostale Inc. — due to share their numbers on Thursday.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)