NEW YORK — The WWD Composite Stock Index slipped during the holiday shortened week to close at 1,085.20, down 0.2 percent from 1,087.17 a week ago, as several retailers with sites in Florida warned about the negative impact of Hurricane...
NEW YORK — The WWD Composite Stock Index slipped during the holiday shortened week to close at 1,085.20, down 0.2 percent from 1,087.17 a week ago, as several retailers with sites in Florida warned about the negative impact of Hurricane Frances.
Among the broader indices, the S&P 500 ended the week up 0.9 percent to 1,123.92 from 1,113.67 last week.
Federated Department Stores said on Tuesday that Frances reduced sales by $20 million, and may lower September same-store sales by 1.5 percent. The company, which closed 57 stores in Florida over the Labor Day weekend, said third-quarter earnings per share would be 3-to-4 cents lower than previous guidance.
Federated shares closed the week down 0.7 percent to $44.97 from $45.28 last week, while shares of Wal-Mart ended the week up 0.4 percent to $53.45 from $53.25. Wal-Mart said on Tuesday that stores in the path of Frances likely had reduced sales, but that purchases of hurricane-related supplies would offset the decline.
Specialty chain Chico’s FAS, which closed 60 stores because of the storm, said on Wednesday that comps in the first 10 days of September were down 2 percent and that the hurricane will cause aggregate September comps to be reduced by 1.5-to-2.5 percent. Shares of the company dropped 6.6 percent in the week to close at $36.09 from $38.63 a week ago.
Shares of Charlotte Russe Holding Inc. lost 24.5 percent to close the week at $11.12 from $14.73 last Friday. The company said on Thursday that earnings per share in the current quarter were anticipated at 11-to-13 cents, down from a previous forecast of 28 cents to 32 cents. It cited weak back-to-school sales and a harder-than-expected repositioning of its Rampage chain.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews