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Retail Stocks Gain 0.3%

Sector gains with broader market despite downward revision in fourth-quarter GDP.

The S&P 500 Retailing Industry Group gained 0.3 percent to 936.82 today, rising in lockstep with the market despite a report showing slower economic growth in the fourth quarter than previously projected.

The Dow Jones Industrial Average increased 0.3 percent to 16,323.38.

Among the fashion-industry gainers were Tumi Holdings Inc., up 10.3 percent to $22.16, The Bon-Ton Stores Inc., 3.1 percent to $10.86, and Target Corp., 3.1 percent to $62.54. Sears Holdings Corp. also rose, gaining 4.1 percent to $44.75 despite a report that the company had possibly had a data breach.

And The Men’s Wearhouse Inc. increased 6.7 percent to $53.79 while Jos. A. Bank Clothiers Inc. gained 3 percent to $62.08. After months of back and forth, the two companies are set to finally begin talks about a possible combination.

The overall gains were a sign that investors are more interested in looking forward more than back.

The Commerce Department said fourth-quarter gross domestic produce rose at an annual rate of 2.4 percent, versus the third quarter, which marks a slow down from the 4.1 percent growth seen for the quarter last month.

In Europe, markets were mostly in positive territory at the close of trading.

The DAX in Frankfurt climbed 1.1 percent to 9,692.08, followed by the FTSE MIB in Milan, up 0.6 percent to 20,442.41, and the CAC 40 in Paris, which rose 0.3 percent to 4,408.08. The FTSE 100 in London, however, ended flat at 6,809.70.

Those on the rise in the fashion set included Debenhams, up 2.7 percent to 0.75 pounds; Burberry, 1.3 percent to 15.41 pounds, and Next, 1.4 percent to 67.35 pounds.

The decliners included Asos.com, down 0.3 percent to 69.60 pounds; French Connection, 0.9 percent to 53 pence; Moncler, 0.7 percent to 13.27 euros, and Safilo Group, 2.7 percent to 16.05 euros.

The pound traded for $1.67 against the U.S. dollar, while the euro went for $1.37 and the Hong Kong dollar changed hands for 13 cents.