Retail sales last month fared worse than the shift in the timing of Easter could explain, touching off concerns about first-quarter inventories and margins as well as the biggest sell-off of retailers’ stocks this year.
Reporting retailers, excluding drugstores, had a 2.2 percent increase in comparable-store sales for the month, better than the 1.4 percent gain expected. But the positive end result came almost exclusively from Costco Wholesale Corp.’s results, which included a 6 percent increase in U.S. comps.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"