The S&P 500 Retailing Industry Group gained 0.5 percent, or 3.94 points, to 769.75, as the Dow Jones Industrial Average, advanced 0.3 percent, or 48.92 points, to 15,105.12. Both indexes logged their best closes ever.
The retail gainers included Stein Mart Inc., which rose 7.6 percent to $10.90 after the company saidcomparable-store sales rose 8 percent in April; J.C. Penney Co. Inc., up 7.4 percent to $17.61 despite a sharper than expected first-quarter sales decline of 16.4 percent, and The Bon-Ton Stores Inc., 2.8 percent to $16.29.
Markets have been rallying on the back of an employment scene that is strengthening, but not so much so that the government is likely to raise interest rates in the immediate future. European stock markets also edged up, with the CAC 40 in Paris leading the way.
The French market advanced 0.9 percent to 3,956.28; followed by the DAX in Frankfurt, up 0.8 percent to 8,249.71; the FTSE MIB in Milan, up 0.8 percent to 8,249.71, and the FTSE 100 in London, ahead 0.1 percent to 15,077.95.
The euro traded at $1.31 against the dollar while the pound fetched $1.55 and the Swiss franc equaled $1.06.
Retail and luxury stocks were mostly on the upswing, with the day’s biggest gainers including Metro AG, up 3.1 percent to 25.51 euros; Inditex, 2.2 percent to 103.75 euros; Carrefour SA, 3 percent to 23.78 euros, and Yoox, 5.3 percent to 15.05 euros.
Among the few stocks that crept downward were Unilever, which fell 2.1 percent to 31.84 euros, and Gemfields, 2.1 percent to 0.24 pounds.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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