NEW YORK — The WWD Composite Stock Index slipped 0.2 percent last week to close at 1,082.62 from 1,085.20 a week ago, as the relentless hurricane season continued to cast a pall over retail sales throughout much of the...
NEW YORK — The WWD Composite Stock Index slipped 0.2 percent last week to close at 1,082.62 from 1,085.20 a week ago, as the relentless hurricane season continued to cast a pall over retail sales throughout much of the Southeast.
Among the broader indices, the S&P 500 finished at 1,128.55, up 0.4 percent from 1,123.92 a week ago.
As Ivan was downgraded to a tropical storm and Jeanne was upgraded to a hurricane, Wal-Mart Stores Inc., the world’s largest retailer, said 77 of its roughly 600 facilities in the Southeast were closed. With 209 facilities in Florida, 105 in Alabama, 96 in Louisiana, 138 in Georgia and 53 in Mississippi, Wal-Mart is in hurricane alley, and investors responded by trading down its stock 1.8 percent to $52.48 from $53.45 a week ago. The retailer’s shares have fallen more than 4 percent, or $2.36, since Aug. 18, acting as a brake on the wider WWD Index.
Pulling in the other direction this week, however, was Federated Department Stores Inc., which saw its shares add 2.8 percent to close at $46.10 versus $44.84 last week. The company’s stock got a boost after Federated said it will convert all of its units — except Bloomingdale’s — to the Macy’s nameplate in January. The change will make Macy’s a $13.5 billion, 423-unit national chain and, if Federated has its way, evolve the nameplate so it becomes known as “America’s department store.”
Gap Inc. also released fairly momentous news last week, but investors just yawned. The nation’s biggest specialty retailer said it will target women aged 35 and older with a new concept, but chief executive officer Paul Pressler acknowledged it could be up to two years before there is any significant rollout of the format. Wall Street responded by trading down Gap’s shares by a penny, or 0.04 percent, to $20.01 from $20.02 last week. While Gap disclosed few details about the new division, up to 10 stores are expected to open in fall 2005.
Gottschalks Inc. celebrated its 100th birthday on Friday by ringing the closing bell at the New York Stock Exchange and enjoying the fact that its stock shot up 32.8 percent last week to $6.40 from $4.82. But investors didn’t buy Gottschalk’s stock for mere sentimental reasons: the 73-unit chain tripled its earnings in the past 12 months. Moreover, the retailer, which is boosting its bottom line through cost cuts, forecast fiscal 2004 earnings of 41 to 43 cents a share, which would almost triple last year’s profits.Amid speculation over a possible bankruptcy filing, ailing specialty retailer Wet Seal Inc. said it appointed Rothschild Inc. as its financial adviser. The company’s stock closed the week at $1.56, up 9.9 percent from $1.42 a week ago.
For insight into what drives fashion and retailing — and, by extension, the WWD Index — the American Apparel & Footwear Association and Emanuel Weintraub Associates will host an issues and solutions conference titled “Creativity: From Concept to Market” on Sept. 30 at the Princeton Club in New York. Panel presentations will be made by Kenneth Cole, ceo of Kenneth Cole Productions; Federated’s chief creative officer Joe Feczko; David Meister, president of the Kellwood-owned company that bears his name; Liz Claiborne executive vice president Trudy Sullivan; and Elie Tahari, ceo of Elie Tahari Ltd.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)