NEW YORK — With the exception of J.C. Penney Co. Inc.’s out-of-the-ballpark expectations for October same-store sales, most stores are trending within their modest plans.
Shares of retailers, though, had a tough day on the equity markets. The Standard & Poor’s retail index dropped 6.39 points, or 2.2 percent, to close at 290.60 Monday. This compared with the broader S&P 500, which was off 7.43 points, or 0.8 percent, at 890.22 and the Dow Jones Industrial Average, which slid 75.95 points, or 0.9 percent, to 8,368.04.
Shares of retailers projecting comparable-store sales in line with expectations weren’t shielded from the selloff. Included in this group were: Wal-Mart Stores Inc., down 2.2 percent to $56.07; Federated Department Stores Inc., 6.6 percent to $30.69 and ShopKo Stores Inc., 2.3 percent to $13.28.
Wal-Mart said its comps, overall and in its namesake division, remain on plan for a 2 to 4 percent uptick in October. The Sam’s Club division’s same-store sales were tracking below plan. Wal-Mart’s fiscal month ends Friday. Overall, sales in apparel, especially men’s and boys’ wear, were strong last week, putting the category on plan for the month. Halloween candy and costumes remain behind plan, but Wal-Mart noted they are coming back quickly.
Federated said sales trends for the third week of October were "mixed." The parent of Bloomingdale’s and Macy’s continues to expect comps for the month to be down 1 to 2 percent.
ShopKo also still expects October comps to produce a low single-digit percentage decline. Most retailers will report sales for the month on Nov. 7.
Other retailers enduring declining market capitalizations Monday were American Eagle, down 5.6 percent to $14.43; Limited Brands, 5.4 percent to $15.46; Urban Outfitters, 5.4 percent to $24.79; Aeropostale, 5.2 percent to $11.21, and Nordstrom, 5 percent to $19.93.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast