The WWD Global Stock Tracker backed off from its all-time high on Thursday but managed to conclude the week with a 1.7 percent gain.

The group of 100 leading international fashion, retail and beauty stocks surrendered 0.37 points, or 0.3 percent to close the week at 111.42. It’s up 7.8 percent in the last three months and 3.1 percent since the beginning of the year.

Stocks pulled back on mixed news about the job market, with the unemployment rate growing to 5.7 percent from 5.6 percent while employers added 257,000 to their payrolls.

Investors have been sensitive in recent months, with signs of a more widespread recovery and the drop in gasoline prices, to developments that could lead the Federal Reserve to hike interest rates or accelerate such a move.

With those concerns in the background, the Dow Jones Industrial Average fell 0.3 percent to 17,824.29, holding on to a 3.8 percent gain for the week, and the S&P 500 dropped 0.3 percent to 2,055.47, its gain for the week at 3 percent.

The largest decline for the day came from Lotte Shopping Co., down 5.5 percent to 234,000 won, or $215.36 at current exchange, followed by Elizabeth Arden Inc.’s 3.3 percent pullback to $14.88 following its report late Thursday on second-quarter financial results.

Shinsegae Co. Ltd. was down 3.1 percent to 170,000 won, or $156.46, and Matsuya Co. receded 2.9 percent to 1,790 yen, or $15.23.

Prada SpA lost 2.6 percent to end the week at 45.55 Hong Kong dollars, or $5.88.

Despite the overall decline in the tracker, winners outnumbered losers by about a 3-to-2 margin. Heading the list of those with gains was Esprit Holdings Ltd., up 3.7 percent to 8.51 Hong Kong dollars, with Michael Kors Holdings Ltd. not far behind, up 3.2 percent to $72. Ann Inc. shares also gained 3.2 percent, closing at $35.05, and Coty Inc., ahead 3 percent to $21.88.

Shiseido Co. managed a 2.7 percent rise to 1,917 yen, or $16.31, followed by Kohl’s Corp.’s 2.3 percent advance to $69.30.


load comments
blog comments powered by Disqus