The WWD Global Stock Tracker slipped 0.1 percent to 98.63 today, with Yoox.com, Kering and Michael Kors Holdings Ltd. leading the sector lower.
Yoox posted the worst performance in the 100-issue Tracker and fell 2.3 percent to 20.20 euros, or $27.15. This came despite the e-commerce company’s 15.9 percent rise in profits in the first half on a 14.7 percent gain in sales, to 238 million euros, or $326 million.
Shares of Kering declined 2 percent to 152.30 euros, or $204.70, prior to the company reporting second-quarter results after the market closed, which included a 1.8 percent rise in revenues. And Michael Kors Holdings Ltd. declined 1.7 percent to $82.27 following a stock downgrade by Baird Equity Research, which now rates the issue at “neutral.” The bank cited “increased risk to revenue and margin performance in North America.”
Overall, it was mostly an off day for stocks.
The Dow Jones Industrial Average dipped 0.2 percent to 16,860.36 as European markets mostly declined, led down by Paris’ CAC 40, which slipped 1.2 percent to 4,312.30.
Hong Kong’s Hang Seng Index posted one of the day’s biggest gains, rising 0.4 percent to 24,732.21.