NEW YORK — After getting pounded by the expected negative impact of higher fuel costs on consumer spending, the WWD Composite Stock Index bounced back Friday, rising 3.7 percent to 1,117.17, which outpaced the S&P 500's 1.9 percent gain to 1,241.48.
Early last week, investors keyed in on several positive economic reports including a drop in oil futures as well as several analyst reports that predicted gas would drop and stabilize at the $3 per gallon mark. Also bolstering confidence on Wall Street was a report from the Institute for Supply Management that signaled expanding economic growth in the services sector.
On the business side, players in the mergers and acquisitions market continue to eye the retail sector. Investors are waiting for Saks Inc. to announce the sale of its northern department store group.
Speaking of M&A activity, Financo Inc. is sponsoring its second annual Merchandising Investors Conference this Thursday. This year, the focus is on how to identify investment opportunities in the merchandising sector. The seminar and cocktails will be held at The Harmonie Club, beginning at 4 p.m. Kip Tindell, president and chief executive officer of The Container Store, is the keynote speaker. Gilbert Harrison, chairman of Financo, will provide introductory remarks.
William S. Susman, Financo's president and chief operating officer, will moderate a panel on "Shopping for Deals in the Merchandising Sector: Entrepreneurs Discuss Winning Corporate Growth Strategies in the Merchandising Sector and How to Identify Investment Opportunities." Panel participants include: Laurence Franklin, president of Tumi; Dean Furbush, ceo of FreshDirect; Ron Hersh, ceo of Rosetti Handbags; Bryant Linares, president of Apollo Diamond, and Ari Zlotkin, ceo of Anne Fontaine.
The conference will provide attendees — mostly hedge funds, private equity firms and restructuring firms — with in-depth information about industry trends and growth strategies in the merchandising sector.
"With the continued interest by private equity firms in investing in retailing and other merchandising companies, this conference will present five private companies that have had their own experience and want to learn more about private equity investments," Harrison said.Separately, the Israel Discount Bank of New York said Terry Schwartz joined its corporate lending area as first vice president, "charged with account management and new middle market business development in New York and New Jersey." Previously, Schwartz served as vice president of new business development with CIT's Commercial Services. She was also a vice president at J.P. Morgan Chase.
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)