NEW YORK — The WWD Stock Index was essentially flat compared with last week, dropping 0.04 percent to 1,083.25 from 1,083.65 despite sluggish September same-store sales, record-high oil prices and weaker-than-expected job...
NEW YORK — The WWD Stock Index was essentially flat compared with last week, dropping 0.04 percent to 1,083.25 from 1,083.65 despite sluggish September same-store sales, record-high oil prices and weaker-than-expected job growth.
Among the broader indices, the S&P 500 dipped 0.8 percent to 1,122.14 from 1,131.5 a week ago.
Given mixed signals for J.C. Penney Co. investors chose to concentrate on the positive. Earlier in the week Piper Jaffray downgraded the company’s stock to “market perform” from “outperform” because of concern of a slowdown in spending by its core customers, but on Thursday Penney’s said its department store comps were up 2 percent last month. Investors traded on the latter news, pushing up the stock 3.8 percent to $36.60 from $35.26 a week ago.
Analysts also rethought their positions on Gap Inc., but, unlike Penney’s, the company found no silver lining in comps — sales in stores open at least a year. Piper Jaffray hit Gap with its second stock downgrade in a week; Lazard Fréres & Co. and Banc of America Securities issued downward profit revisions, and then the nation’s largest specialty retailer said September comps fell for a fourth consecutive month, this time by 3 percent. Nevertheless, investors liked Gap’s share price enough to trade up the stock 0.6 percent to $19.15 from $19.04 last week.
Tommy Hilfiger Corp. was hit with two more class action shareholder lawsuits last week stemming from a federal investigation of overseas commissions paid to a related company. The company’s shares fell 7.8 percent to $9.05 from $9.82 a week ago.
Struggling Tarrant Apparel Group said it expects to post a steep loss for fiscal 2004 and anticipates significantly softer sales in the second half as retailers were less aggressive following a lackluster back-to-school shopping season. Investors traded down the company’s shares 7.1 percent to 79 cents from 85 cents.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)