Investors appeared to breathe a sigh of relief about the fiscal condition of retailers in the aftermath of the peak of the holiday selling season.
This story first appeared in the December 30, 2014 issue of WWD. Subscribe Today.
On the strength of gains among most of its U.S. retail equities, the WWD Global Stock Tracker rose 0.1 percent to 108.70, identical to the S&P 500’s rise to 2,090.57. Retail components of the S&P rose far more, with the S&P 500 Retailing Industry Group gaining 0.8 percent to close at 1,035.09, while the Dow Jones Industrial Average gave back 0.1 percent to close at 18,038.23.
Australia’s Myer Holdings Ltd. gained the most ground among tracker stocks, rising 0.1 percent to 1.48 Australian dollars, or $1.20 at current exchange. Li Ning Co. was up 6.5 percent to 3.62 Hong Kong dollars, or 47 cents, with Guess Inc. a fairly distant third, up 3.4 percent to $21.06.
Avon Products Inc. and Kate Spade & Co. both tacked on 3.2 percent to end the day at $9.56 and $31.56, respectively. Dillard’s Inc. added 3.1 percent to close at $125.81.
Issues losing ground were led by Quiksilver Inc., down 7.4 percent to $2.25, and Luen Thai Holdings Ltd., off 4.9 percent to 1.37 Hong Kong dollars, or 18 cents.
Shanghai Metersbonwe was off 3.9 percent to 10.60 yuan, or $1.71, while Vince Holding Corp. lost 2.5 percent to close at $26.62.
Hermès International ended the day at 287.10 euros, or $349.59, while Takashimaya Co. closed at 977 yen, or $8.11.
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