The S&P 500 Retailing Industry Group rose nearly 1 percent to 880.12 on Wall Street today as most global stock indices logged small gains today.
Among the top performers in the U.S. markets were Elizabeth Arden Inc., up 13.1 percent to $36, and American Apparel Inc., up 11 percent to 73 cents. Arden rose amid reports that it hired Goldman Sachs as financial advisor to help it explore sale options. Those reports came a day after Seoul-based LG Household and Health Care Ltd. said Arden is one of several acquisition targets it was considering. Also gaining ground were Pacific Sunwear of California Inc., up 4.9 percent to $2.99, and The Wet Seal Inc., rising 2.6 percent to $1.19.
Among the decliners was Under Armour Inc., which fell 7.4 percent to $50.42 after the company’s guidance for this year disappointed. Under Armour posted a 73.3 percent gain in first-quarter net income and said net revenues for 2014 would be in the range of $2.88 billion to $2.91 billion, or 24 percent to 25 percent growth over 2013. Matthew McClintock, analyst at Barclays, said that guidance “remains conservative.”
Also losing ground was Cache Inc., which slipped 5.5 percent to $2.76.
The Dow Jones Industrial Average held steady, ending the day unchanged at 16,501.65.
Overseas, the European stock markets saw minor gains at the close, led by the FTSE MIB in Milan, which was up 0.7 percent to 21,819.48.
The CAC 40 in Paris climbed 0.6 percent to 4,479.54 while the FTSE 100 in London was up 0.4 percent to 6,703.00. The DAX in Frankfurt rose 0.1 percent to 9,548.68.
The euro traded at $1.38 against the dollar, while the pound fetched $1.68 and the Swiss franc went for $1.13.
Retail and luxury stocks were mostly down, with the day’s biggest decliners including Unilever, down 2.1 percent to 30.08 euros, following a 6.3 percent dip in first-quarter sales due to currency headwinds.
Carrefour SA sank 3.2 percent to 28.05 euros and French Connection Group was down 3.6 percent to 0.74 pounds. Asos.com fell 2.8 percent to 45.78 pounds.
Among the few stocks that gained ground were Safilo Group, up 1.8 percent to 15.35 euros; Burberry Group, 1.8 percent to 14.54 pounds; and Gemfields, 2.2 percent to 0.41 pounds.