Retail shares returned to positive ground despite the Commerce Department’s report of sales declines in January.
The S&P 500 Retailing Industry Group recorded a 0.9 percent increase to 896.49 following news early in the day of a 0.4 percent decline in overall retail sales compared to December, with apparel and accessories stores down a seasonally adjusted 0.9 percent and department stores off 1.5 percent. An arctic climate outside and promotional one in stores kept a lid on sales throughout the month.
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)