NEW YORK — Thanks to big gains in stock prices on Thursday — due in large part to a broader market rally — the WWD Composite Stock Index edged out a gain for the week to finish 1,087.17 on Friday, up 1.2 percent from 1,073.77...
NEW YORK — Thanks to big gains in stock prices on Thursday — due in large part to a broader market rally — the WWD Composite Stock Index edged out a gain for the week to finish 1,087.17 on Friday, up 1.2 percent from 1,073.77 a week ago.
In comparison, the S&P 500 moved up 0.5 percent throughout the week to 1,113.67 from 1,107.77 last week.
Wall Street’s attention was focused on Thursday’s August same-store sales results, which showed the weakest aggregate gain in more than a year, and caused several retailers to revise quarterly earnings estimates. Most notably, Wal-Mart said earnings per share in the third quarter was expected to come in at the low end of its prior forecast of 52 cents to 54 cents. The lowered guidance was announced following Wal-Mart’s report of a 0.1 percent gain in August comps at its discount stores. Wal-Mart guided September comps to be up 2 to 4 percent.
Shares of the world’s largest retailer finished the week down 0.6 percent to $53.25 from $53.56 last week.
On the specialty retail side, shares in American Eagle Outfitters closed the week up 4.8 percent to $36.06 from $34.40 a week ago after the company boosted its third-quarter earnings-per-share projection by about 10 cents to 56 cents to 58 cents. The company reported a staggering 26.6 percent rise in August comps at its U.S. American Eagle stores last week.
Chico’s FAS, however, reported a weaker-than-expected 3.6 percent rise in August comps. The results came one week after the company had guided for a 6 to 8 percent rise in August comps amid its second-quarter earnings report that showed double-digit gains in both profits and sales. The stock closed the week down 9.1 percent at $38.63 from $42.51 in the prior week.
Despite the generally weak comps, the S&P Retail Index surged 2.3 percent to 401.22 from 390.31 a week ago. The index’s improvement came amid a rally in the broader markets, which was based partly on improved oil prices and a news report that the arrest of Osama bin Laden “is closer than ever,” according to a U.S. counterterrorism official quoted in an Associated Press story.Meanwhile, shares of Kmart Holding Corp., which does not report monthly same-store sales, got a boost last week after the company said late last week that it will sell 45 stores — with the possibility of selling six more — to Sears, Roebuck & Co. for cash proceeds that could total as much as $589.7 million. Kmart closed the week up 6.3 percent to $82.08 from $77.20 last week.
Other gainers in the week included vendors Polo Ralph Lauren, up 5.2 percent to $38.45 from $36.55 in the prior week; Liz Claiborne, which increased 5.4 percent to $39.48 from $37.45 a week ago; and Nike, up 1.1 percent to $76.81 from $75.95 last week.
“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)