The WWD Global Stock Tracker finished the week on a down note, but remained solidly in positive territory for the week.
The group of 100 international fashion, retail and beauty stocks shed 0.2 percent to land at 107.44 today. However, bolstered by a record 2.1 percent gain on Thursday, it ended the week 1.7 percent ahead of its 105.61 endpoint last Friday.
The Wall Street bulls slowed their pace to a jog from a sprint as trading concluded. The Dow Jones Industrial Average gained 0.2 percent to finish at 17,804.80 and the S&P 500 rose 0.5 percent to 2,070.65, locking in respective increases for the week of 3 and 3.4 percent following their strongest performances of the year on Thursday.
However, the S&P 500 Retailing Industry Group didn’t keep pace with the S&P, of which it is a subset, rising 0.3 percent to 1,006.95. That put its improvement for the week at 1.4 percent and marked just its fifth close above the 1,000 mark.
Quiksilver Inc. continued the progress it’s made since providing guidance for improved sales and profitability in 2015 on Dec. 12. The Huntington Beach, Calif.-based beach lifestyle firm led all tracker stocks with a 20.4 percent increase to $2.72 and is now up 83.8 percent since furnishings a rosier outlook to Wall Street.
American Apparel Inc. shares sustained their upward trajectory as well, rising 7 percent to $1.07 as the drama about the company’s management and even ownership continued in the wake of the termination on Tuesday of founder and former chief executive Dov Charney. Shares have risen 84.5 percent since the firing was announced.
Three British firms were included among the top 10 increases. Ted Baker plc was up 5.7 percent to 22.01 pounds, or $34.49 at current exchange; Marks and Spencer Group plc improved 3.5 percent to 4.77 pounds, or $7.47, and Debenhams plc was up 2.6 percent to 74 pence, or $1.16.
Li Ning Co. rose 3.6 percent to 3.19 Hong Kong dollars, or 41 cents, the fourth largest increase of the day.
Among those shedding the most value were Iconix Brand Group Inc., down 6.9 percent to $33.35; Global Brands Group, 3.7 percent to 1.56 Hong Kong dollars, or 20 cents; Anta Sports Products Ltd., 3.6 percent to 13.86 Hong Kong dollars, or $1.79, and Shinsegae Co. Ltd., down 3.4 percent to 187,000 won, or $170.04
J.C. Penney Co. Inc. and Dillard’s Inc. saw their shares pull back 3.1 and 2.8 percent, respectively, to $6.59 and $115.66.
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