The Dow Jones Industrial Average slunk back below 10,000 Tuesday and retail stocks fell 3.8 percent, surrendering the 400 mark, as general economic concerns and a sharp drop in consumer confidence fueled a global sell-off.
The Conference Board’s Consumer Confidence Index slipped to 52.9 from 62.7 in May as shoppers reported feeling less bullish in their current economic situations and their future outlooks. Rather than a nearly 10-point drop, economists expected the index to post its fourth consecutive monthly gain.
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)