NEW YORK — Pleased with better-than-expected January same-store sales results, investors were lured into the retail sector last week, which drove up stock prices.
In turn, the WWD Composite Stock Index closed the week up 2.4 percent to 1,146.12. The S&P 500 finished the week up 2.7 percent to 1,203.03.
One stock that jumped significantly was American Eagle Outfitters Inc., which announced a two-for-one stock split on Friday.
The specialty retailer said its board approved the split, which closes on Valentine’s Day. This is the fifth split for American Eagle. Shares of the company finished the week up 9.4 percent to $54.13.
Valuations in the sector have seesawed for the past month. Some analysts are expecting a rally to build in February and March.
Regarding executive changes last week, Mark Bienstock joined Westgate Financial Corp. as a senior vice president on Jan. 25, following a stint at DCD Capital here.
With more than 20 years experience in the factoring industry, Bienstock began his career at CIT in 1986. He left in 1993 to join China Trust Bank, where he launched China Trust’s factoring division. After six years at the bank, he moved on to DCD Capital. Hoboken, N.J.-based Westgate is an independent factoring institution that offers trade and financial services to start-ups, small to midsize businesses, rapidly growing companies and turnaround situations. Westgate offers factoring on a nonrecourse basis as well as inventory facilities, purchase order funding and letter-of-credit programs.
Bruce L. Cohen, president and chief executive officer of Westgate, said, “We pride ourselves on our reputation for our one-to-one relationships with our clients. Mark’s strong factoring background, sterling reputation and great people skills can only further enhance that reputation.”
“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)