The WWD Global Stock Tracker recorded the second largest gain of its six-month life span and reached an all-time high as stocks continued their comeback from a New Year’s swoon.
WWD’s group of 100 leading international fashion, retail and beauty stocks rose 1.9 percent to end the day at 109.77, the highest close since the tracker’s launch on July 8. The percentage gain was its second largest, lagging only the 2.1 percent advance recorded on Dec. 18.
The tracker managed this gain even though the two U.S. retail stocks with the largest gains of the day, Aéropostale Inc. and Pacific Sunwear of California Inc., are not among its components. Aéropostale shares leapt 23.9 percent to $2.80 and PacSun’s rose 21 percent to $2.77 as both provided holiday updates that included guidance for smaller fourth-quarter losses than earlier expected. Aéropostale reported a 9 percent decline in comps for the November-December holiday period while PacSun said its comps rose 9 percent in December.
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Among tracker stocks, the three biggest increases came from U.S. firms, with Sears Holdings Corp. up 10.4 percent to $35.52; Oxford Industries Inc. up 6.7 percent to $54.69 and Quiksilver Inc. up 6.3 percent to $2.19. Ted Baker plc shares were up 5.4 percent to 23.67 pounds, or $35.77 at current exchange, while Samsonite International SA shares rose 4.8 percent to 24.20 Hong Kong dollars, or $3.12.
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Other U.S. retailers registering strong gains included The Buckle Inc., up 3.8 percent to $54.75 after reporting a 2.5 percent increase in December comparable sales, and Urban Outfitters Inc., up the same percentage to $8.83 following its disclosure of a 4 percent comp increase in November and December that included a 1 point advance at its recently troubled namesake brand.
However, American Eagle Outfitters Inc. shares shed 4.7 percent, to $13.94, despite its elevation of fourth-quarter guidance following a 4 percent increase in holiday comps. That decline was second among tracker stocks to Kate Spade & Co.’s 8 percent slip to $28.30 but greater than Li Ning Co.’s 4.4 percent slide to 3.25 Hong Kong dollars, or 42 cents.
Pandora A/S shares were off 4.2 percent to 472.50 Danish kroner, or $75.18, and Youngor Group Co. and Marks and Spencer Group plc both descended 3.6 percent to 11.32 yuan, or $1.82, and 4.46 pounds, or $6.73, respectively.
The only other tracker stock to lose as much as 3 percent of its value was American Apparel Inc., down 3.5 percent to 83 cents.
The S&P 500 Retailing Industry Group was up 1.2 percent to 1,030.02 for the day, shy of he 1.8 percent gain registered by its parent S&P 500, which rose 1.8 percent to 2,062.14, erasing losses incurred since the end of 2014. The Dow Jones Industrial Average managed a 323.35 point, or 1.8 percent, gain to close within 100 points of the 18,000 mark at 17.907.87.
Crude oil futures ended the day at $49 a barrel and the euro at $1.18 against the U.S. dollar.
The stabilization in commodities and currencies buoyed overseas markets earlier in the day. Major European markets advanced, led by the 3.6 percent advance by the CAC 40 in Paris, which closed at 4,260.19, while Tokyo’s Nikkei 225 was up 1.7 percent to 18,804.98.