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Retail Stocks Outpace Market

Sector rises 0.8 percent; shares of Sears gain ground.

Retail stocks outpaced the market on Wall Street today.

The S&P 500 Retailing Industry Group rose 0.8 percent to 875.99 and the Dow Jones Industrial Average inched up 0.4 percent to 16,698.74, as trading settled.

Leading the U.S. stocks tracked by WWD was Sears Holdings Corp., which jumped 7.6 percent to $41.13. The ailing retailer has continued to lose market share and post losses, but the stock has managed to hold up as chief executive officer Edward Lampert sells off assets and seeks to transform to a member-centric business model.

Shares of Abercrombie & Fitch Co. increased 5.8 percent to $37.15 after the company’s second-quarter losses lined up with expectations and Signet Jewelers rose 3.5 percent to $108.34 after completing its deal to acquire competitor Zale Corp. Also showing a solid gain was J.C. Penney Co. Inc., which increased 2.9 percent to $9.03.

In Europe, the major stock indices showed mostly modest declines with the FTSE 100 bucking the trend in London and gaining 0.3 percent to 6,871.29.

The FTSE MIB in Milan declined 0.4 percent to 21,511.35 while the DAX in Frankfurt was nearly flat, slipping just 0.27 points to 9,938.90, and CAC 40 in Paris decreased 1.12 points to 4,530.51.

Among the decliners were Salvatore Ferragamo Italia, down 1.2 percent to 22.35 euros; Brunello Cucinelli, 0.6 percent to 18.72 euros; Mulberry Group, 0.5 percent to 7.12pounds, and Tod’s 0.3 percent to 98.50 euros.

The euro traded at $1.36 against the U.S. dollar and the pound fetched $1.67.