Retail Stocks Slip as Market Hits New High

Retail shares down 0.3 percent on Wall Street today.

Retail stocks slipped today even as Wall Street hit a new high.

The S&P 500 Retailing Industry Group dipped 0.3 percent, or 2.35 points, to 836.98 as the Dow Jones Industrial Average inched up 0.1 percent, or 22.19 points, to 15,567.74, having set a new all-time high of 15,604.22 in morning trading.

The decliners in the apparel retailing and beauty world included Sears Holdings Corp., down 4.1 percent to $42.81; Estée Lauder Companies Inc., 2.6 percent to $64.95; Pacific Sunwear of California Inc., 2.4 percent to $4, and New York & Company Inc., 2 percent to $6.43.

Most European markets edged down. The FTSE 100 in London and the CAC 40 in Paris were both off 0.4 percent, to 6,597.44 and to 3,923.09, respectively, while the DAX in Frankfurt fell 0.2 percent to 8,314.23.

Milan’s FTSE MIB rose 0.03 percent to 16,238.58.

Retail and luxury stocks put on a mixed show, with the day’s biggest gainers including The Swatch Group, which rose 2.2 percent to 94.30 Swiss francs after the company forecast a strong second half, and Mulberry Group, up 1 percent to 9.90 pounds.

The biggest decliners included Hermès International and LVMH Moët Hennessy Louis Vuitton, both of which fell 1.2 percent, to 259.20 euros and to 130.05 euros, respectively; and Luxottica Group, down 2.5 percent to 39.25 euros. Burberry Group sank 1.6 percent to 14.80 pounds and Brunello Cucinelli also fell 1.6 percent to 20 pounds.

The euro traded at $1.32 against the dollar while the pound fetched $1.53 and the Swiss franc equaled $1.07.