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Retail Stocks Rise 0.5% on Wall Street

Sector logs another record close.

U.S. retail stocks pushed ahead to set another record high close Friday.

The S&P 500 Retailing Industry Group rose 0.5 percent, or 4.70 points, to 927.89, while the Dow Jones Industrial Average also increased 0.5 percent, advancing 85.48 points to 15,961.70.

Markets have been on a roll this year despite the painfully slow economic recovery. Retail stocks are up 42.1 percent so far for the year, compared with the Dow’s 21.8 percent gain.

The day’s fashion-sector gainers included J.C. Penney Co. Inc., up 3.9 percent to $9.03; American Apparel Inc., 1.8 percent to $1.16; Lululemon Athletica Inc., 1.2 percent to $66.96, and Burlington Stores Inc., 1.1 percent to $30.18.

In Europe, markets were mixed. Milan’s FTSE MIB fell 0.4 percent to 18,687.19, but Paris’ CAC 40 and Frankfurt’s DAX both rose 0.2 percent, to 4,292.23 and 9,168.69, respectively, and London’s FTSE 100 increased 0.4 percent to 6,693.44.

The euro traded at $1.35 against the dollar, while the pound fetched $1.60 and the Swiss franc equaled $1.09.

Retail and luxury stocks were mostly up, with the exception of Safilo Group, which was down 1.2 percent to 16.04 euros.

Among the gainers were Ferragamo, up 6.4 percent to 25.30 euros; The Swatch Group, 2.7 percent to 101.10 Swiss francs, and Compagnie Financière Richemont, 2.4 percent to 92.70 Swiss francs.