Stocks spent most of the day in negative territory, but moved up in afternoon trading as fears about the fate of Lehman Brothers turned to speculation about possible buyers for the troubled investment bank. The Dow Jones Industrial Average finished the session at 11,433.88, up 164.96, or 1.5 percent, and the Standard & Poor’s Retail Index
managed a gain of 2.48 points, or 0.6 percent, to 410.17. The S&P 500 rose 1.4 percent to 1,249.05 and the Nasdaq Composite was 1.3 percent higher at 2,258.22. After reporting stellar second-quarter earnings, Lululemon Athletica led all fashion issues with a 14.4 percent spike. Regional department store Bon-Ton also scored a double-digit gain and Gottschalks shares rose 3.5 percent. Dillard’s stock headed in the other direction, retreating 5.6 percent. NexCen Brands shares jumped 8 percent after the firm said it is actively negotiating with multiple bidders to sell its Bill Blass and Waverly brands. With its 4.8 percent jump on Thursday, to $8.25 a share, Eddie Bauer Holdings’ stock has more than doubled since July 2. Overseas stocks were broadly lower, with IT Holding bucking the trend and locking in a 5.45 percent gain for the day.
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)