U.S. retail shares began the week with gains that outpaced the overall equity markets.
The S&P 500 Retailing Industry Group expanded 0.6 percent to 896.51 on Wall Street today, while the Dow Jones Industrial Average rose 0.2 percent to 15,639.12 and the S&P 500 increased 0.4 percent to 1,767.93.
The top performers among fashion, retail and beauty stocks were Christopher & Banks Corp., up 5.9 percent to $6.12, and Oxford Industries Inc., up 5.3 percent to $73.53. The Bon-Ton Stores Inc. and Sears Holdings Corp. managed gains of 4.8 and 4.6 percent, respectively, to $11.63 and $60.86. And Fifth & Pacific Cos. Inc. and Abercrombie & Fitch Co. advanced 3.7 and 3.6 percent, respectively, to $27.54 and $38.21.
Midtier competitors Kohl’s Corp. and J.C. Penney Co. Inc. both neared 3 percent gains, with Kohl’s up 2.9 percent to $58.47 and Penney’s ahead 2.7 percent to $8.36.
Among issues tracked by WWD, advancers outnumbered decliners by about a three-to-one margin. American Apparel Inc. suffered the day’s biggest sell-off, dropping 3.9 percent to $1.25.
European markets made modest gains, led by Milan’s FTSE MIB, ahead 0.8 percent to 19,310.69. The FTSE 100 in London and Paris’ CAC 40 both gained 0.4 percent, to 6,763.62 and 4,288.59, respectively, while Frankfurt’s DAX was up 0.3 percent to 9,037.23.
The euro traded at $1.35 against the dollar and the pound was worth $1.60.
Retail and luxury stocks were mostly on the rise in Europe, with the day’s strongest performers including Yoox.com, up 4.1 percent to 27.80 euros; Hermès, 1.9 percent to 257.30 euros, and Asos.com, 1.4 percent to 58.31 pounds.
Among the shares losing ground were Mulberry, which slid 7 percent to 10 pounds, and Marks & Spencer, 1.5 percent to 4.87 pounds.