NEW YORK — The WWD Stock Index failed to sustain its rally into a third consecutive week, stalling at 1,073.77, or just 0.04 percent below last week’s close of 1,074.17.
In the broader market, the S&P 500 advanced 0.9 percent to 1,107.77 from 1,098.35.
Lowered guidance from a couple of retail and wholesale heavyweights cancelled out strong share performance by other members of the WWD Index, while the S&P 500 responded to an easing of oil prices to around $43 a barrel from almost $50 a week ago.
But in the retail sector, Wal-Mart Stores Inc.’s stock weighed down the WWD Index with a 2 percent drop to $53.56 from $54.65 a week ago after the retailer lowered its August same-store sales forecast. The world’s largest company said comps will now likely be flat to 2 percent instead of the previous outlook of a 2 to 4 percent gain.
Wal-Mart partly blamed the impact of Hurricane Charley, which hit the Southeast states in mid-August, causing the company to temporarily close 75 area stores.
Some analysts, however, said the cooler comps may reflect moderating consumer spending habits going into the second half of the year, and a shift in back-to-school spending, with hip, electronic gadgets threatening to take market share from apparel.
As for the wholesale side, giant Kellwood Co. said second-quarter profits shot up 52.9 percent to $10.2 million on a 10.1 percent sales increase, but investors were looking to the future. The company’s shares dropped 5.8 percent for the week to $36.10 from $43.72 after Kellwood guided third-quarter earnings and sales well below Wall Street’s forecast. Kellwood said lukewarm demand for apparel and delays in new marketing programs were partly to blame.
Meanwhile, Nordstrom Inc.’s stock was pulling in the other direction, improving 2 percent to $37.55 from $36.82 a week ago. The company’s announcement last week of a $300 million share repurchase program appeared to have the intended effect of renewing Wall Street’s faith in the company’s financial position.
Tugging along with Nordstrom was Barneys New York Inc., which looks to be in an enviable position. The company, which is on the sales block, saw its shares add 2.5 percent to $20.60 from $20.10 a week ago after the company said it swung back to second-quarter profitability.Chico’s FAS Inc. also had a strong second quarter. Indeed, profits and sales grew by double digits, but Wall Street’s darling found that investors are fickle: They traded down the company’s shares 2.8 percent to $42.51 from $43.72 last week after Chico’s beat the consensus estimate by only a penny.
“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)