U.S. retail stocks retreated today, losing 1 percent after setting a new all-time high on Friday.
The S&P 500 Retailing Industry Group dipped 7.17 points to 705.30 as the Dow Jones Industrial Average took a smaller step back, slipping 0.1 percent, or 14.05 points, to 13,881.93. Among the companies weighing on the retail index were Amazon.com Inc., down 2.8 percent to $276.04, and J.C. Penney Co. Inc., 0.7 percent to $19.22.
The day’s most dramatic move of the day came from Jos. A. Bank Clothiers Inc., which fell 15.1 percent to $39.28 after the company released earnings guidance late Friday that implied a fourth-quarter profit decline of 39.5 percent.
Markets remain near multi-year highs as investors look for the economy to continue to show slow and steady growth.
European markets closed with slight gains. The FTSE MIB in Milan led the way, gaining 1 percent to 17,897.41. The FTSE 100 in London was up 0.2 percent to 6,294.41 and the CAC 40 in Paris advanced 0.1 percent to 3,780.89. The DAX in Frankfurt dipped 0.3 percent to 7,833.
The day’s strongest gainers included Mulberry, up 4.2 percent to 12.26 pounds; PPR, 1.5 percent to 158.45 euros, and Yoox, 3.7 percent to 14.15 euros.
Among the stocks losing ground were Debenhams, down 2.9 percent to 1.02 pounds, and Inditex, which lost 2.1 percent to 105.05 euros.
The euro traded at $1.35 against the dollar, while the pound was worth $1.58.