By  on July 24, 2008

A profit warning from Costco Wholesale Corp., and a double-digit drop in its shares, couldn’t keep retail stocks from their second consecutive day of advances.

With crude oil prices again experiencing a sharp drop Wednesday and settling at below $125 a barrel for the first time this month, the Standard & Poor’s Retail Index gained 8.4 points, or 2.4 percent, to finish the day at 360.98. As on Tuesday, the performance far outstripped advances for the Dow Jones Industrial Average (up 0.3 percent to 11,632.38) and the S&P 500 (up 0.4 percent to 1,282.18).

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