U.S. retail stocks finished the week on a down note, but Vince Holding Corp. enjoyed a strong debut following its initial public offering.
While the S&P 500 registered its first close above the 1,800 mark, ending up 0.5 percent at 1,804.76, the S&P 500 Retailing Industry Group failed to make it into positive territory, finishing today’s trading session down 0.2 percent at 914.40.
The Dow Jones Industrial Average stayed above the 16,000, rising 0.3 percent to end the week at 16,064.77.
Vince shares made an auspicious debut in the morning, hitting the New York Stock Exchange at $20 and rising 43.3 percent to close at $28.66.
Other notable advances came from The Bon-Ton Stores Inc., which gained 14.5 percent to $17.26 after reporting a lower-than-expected third-quarter loss on Thursday, and Destination XL Group Inc., which rose 9.5 percent to $7.06 after logging strong comparable-store sales for its larger, more upscale DXL stores.
Declines included Delia’s Inc.’s 14.9 percent drop to $1.20 and Ross Stores Inc.’s 5.7 percent fall to $75.67 following the weak fourth-quarter guidance the retailer provided on Thursday.
Europe’s markets had another day of mixed performances.
The FTSE MIB in Milan and the FTSE 100 in London both closed down 0.1 percent, to 18,822.31 and 6,675.67, respectively.
But the CAC 40 in Paris gained 0.6 percent to close at 4,278.53 and Frankfurt’s DAX finished up 0.2 percent at 9,215.37.
Among the factors boosting stocks in Frankfurt was today’s report from Germany’s Ifo institute, which found that the country’s business climate index for industry and trade rose to its highest level in November since 2011. The index measures firms’ expectations about their business developments.
Fashion, luxury and retail stocks that gained included Ferragamo, up 3.8 percent to 27.51 euros; Marks & Spencer, which rose 1.4 percent to 4.96 pounds, and Carrefour, up 1.6 percent to 27.97 euros.
Among the stocks that fell were Mulberry Group, down 1 percent at 10.15 pounds; Luxottica, which fell 1.5 percent to 38.48 euros, and Beiersdorf, which dipped 0.5 percent to 73.65 euros.
The euro traded at $1.34, while the pound went for $1.61.