Retail shares in the U.S. dropped nearly 2 percent as disappointment over holiday sales merged with ongoing anxiety about the approach of the fiscal cliff.
The S&P 500 Retailing Industry Group was down 11.2 points, or 1.7 percent, to 642.87 while, in the broader market, the Dow Jones Industrial Average fell 24.49 points, or 0.2 percent, to 13,114.59. The S&P 500 slid 6.83 points, or 0.5 percent, to 1,419.83.
Declines were sharpest in, although hardly relegated to, the teen specialty retail sector. Shares of Hot Topic Inc. were off 5.9 percent to $9.41 while Aéropostale Inc., Zumiez Inc. and American Eagle Outfitters Inc. saw theirs drop 4.7, 4.5, and 4.1 percent, respectively, to $12.48, $18.53 and $19.65. Vertical luxury brands Michael Kors Holdings Ltd. and Coach Inc. had selloffs of 6.6 and 5.9 percent, respectively, to close at $50.03 and $54.13.
Broadlines retailers posted smaller declines, with one of the few exceptions to the downward drift coming from J.C. Penney Co. Inc., whose shares rose 4.4 percent to $20.75. Saks Inc. and Nordstrom Inc. were off 3.8 and 2 percent, respectively, for the day, to $10.22 and $51.40. Stage Stores Inc., a strong same-store sales performer in recent months, weathered a 6.6 percent selloff to close at $23.10.
Word of clearance activity in Target Corp.’s promotion of designer merchandise with Neiman Marcus made only a small dent in Target’s performance. Its shares were down 0.6 percent to $59.21. Neiman’s is privately held.
U.K. markets were closed for Boxing Day Wednesday while other European and most Asian markets were shuttered in extended observance of Christmas.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty