The WWD Global Stock Tracker followed the path of U.S. equities, rebounding after a steep decline Tuesday.

The tracker rose 0.7 percent to 99.49 from its 98.83 finish on Tuesday, a smaller gain than the major U.S. indices, which also sustained larger declines than the tracker’s 0.9 percent slip on the prior day than WWD’s sample of 100 global fashion, retail and beauty firms.

The Dow Jones Industrial Average tacked on 274.83 points, or 1.6 percent, more than erasing Tuesday’s 272.52-point slide.

Although the general direction among fashion stocks was up, the day’s biggest newsmakers sustained losses, led by J.C. Penney Co. Inc.’s 6.1 percent decline to $8.63 as it guided investors towards expectations of a low-single-digit gain in comparable sales for the third quarter versus earlier mid-single-digit expectations.

Sears Holdings Corp. shares were down 4.8 percent to $28.85 as reports circulated of vendors seeking protection against the retailer’s weak cash position but came back from double-digit declines earlier in the day. American Apparel Inc. shares also dropped 4.8 percent, to 71 cents.

Pandora A/S shares declined 4 percent to 441.70 Dutch kroner, or $75.17 at current exchange, while Isetan Mitsukoshi Holdings Ltd. saw its shares downtrend 3.6 percent to 1,3500 yen, or $12.50.

U.S.-based equities dominated the day’s winners.

Leading the majority of tracker stocks to register gains for the day was Vince Holding Corp., up 4.8 percent to $33.09, followed by Express Inc., ahead 4.3 percent to $15.04, and Elizabeth Arden Inc., up 3.9 percent to $17.64.

American Eagle Outfitters Inc. shares locked in a 3.8 percent advance to close at $14.58 while Perry Ellis International Inc. was up 3.4 percent to $20.32.

Shares of Gap Inc. rose 1.7 percent to $41.90 during regular trading hours but fell 7.4 percent to $38.80 after the company said that chief executive Glenn Murphy would step down in February and be succeeded buy Art Peck, currently president of the growth, innovation and digital division. Gap disappointed investors when it reported flat comparable sales for September.

Click Here for the WWD Global Stock Tracker >>

RELATED CONTENT: WWD Earnings Tracker >>

 

load comments
blog comments powered by Disqus