Retail stocks missed out on most of Wednesday’s dramatic stock rally, but the plan by central banks to ensure the financial markets continue to function despite Europe’s debt troubles could draw investor attention back to business basics just as stores hit the peak holiday season.
The S&P Retail Index, which started off the week with a big gain following strong Black Friday sales, rose a mild 1.6 percent, or 8.22 points, to 527.43 as the Dow Jones Industrial Average retook the 12,000 mark in a late-afternoon burst, jumping 4.2 percent, or 490 points, to 12,045.68. It was the best day on Wall Street since the depths of the U.S. financial crisis in March 2009.
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)