Retail Stocks Decline 0.2% on Wall Street

Sector misses out on broader gains.

Retailers missed out on Wall Street’s modest gains today.

The S&P 500 Retailing Industry Group slipped 0.2 percent, or 1.36 points, to 664.11, as the Dow Jones Industrial Average rose 0.5 percent, or 61.66 points, to 13,390.51.

The decliners in fashion included Under Armour Inc., down 4.1 percent to $46.65; The Jones Group Inc., 3.9 percent to $10.79; Chico’s FAS Inc., 3.1 percent to $17.73, and Ann Inc., 2.1 percent to $33.42.

Investors are turning their attention to fourth quarter corporate earnings, which began to roll out this week. By and large, retailers don’t start reporting bottom line results for the holiday period until next month.
European stock markets closed mostly higher.

Milan’s FTSE MIB jumped 2.2 percent to 17,326.27 and the FTSE 100 in London advanced 0.7 percent to 6,098.65, its highest level since May 2008. In both cases, the gains were led by bank stocks. The CAC 40 in Paris and the DAX in Frankfurt rose 0.3 percent to 3,717.45 and 7,720.47, respectively.

The euro traded at $1.31; the pound traded at $1.61; the Swiss franc traded at $1.10; and the Swedish kronor traded at 15 cents at 6:15 p.m. CET.

Retail and luxury stocks were mixed, with Compagnie Financière Richemont up 4.5 percent to 77.65 Swiss francs, and PPR up 2.1 percent to 147.40 euros.

Carrefour was down 2.7 percent to 19.55 euros, amid rumors the French retailer logged disappointing sales in its hypermarkets in the fourth quarter and could issue a profit warning when it publishes full-year sales on Jan. 17.

Hennes & Mauritz AB closed down 1.25 percent at 221.80 Swedish kronor, after announcing its new fashion brand, & Other Stories, will launch stores in seven cities — Barcelona, Berlin, Copenhagen, London, Milan, Paris and Stockholm — to mark its first collections.