Consumer sentiment fell for the second straight month in July, providing a bad omen for the back-to-school selling season and battering retail stocks, which broke a three-day winning streak with a 1.9 percent decline.
The Conference Board’s Consumer Confidence Index dropped to 50.4 for July, down from 54.3 in June and 62.7 in May. Economists were expecting the research group’s monthly reading of the index to show a milder decline, to 51. The July mark is slightly below the 50.6 registered eight months ago, in November 2009.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)