Retail stocks were battered Wednesday when stock markets tumbled amid the latest round of fears about the housing slump and troubled mortgage lenders.
Among those feeling the pain were stores that disclosed their June comparable-store sales ahead of the pack. Comp-store sales for Chico's FAS Inc. fell 12.9 percent for June, sending the company's stock down 5.4 percent to $5.03. Despite a 6 percent rise in comps from June 2007 to June 2008, Caché Inc. shares dropped 8.3 percent to $11.63 on word that it had lowered its third-quarter guidance. Even shares of Buckle Inc., which announced a same-store sales surge of 28.9 percent, remained relatively flat, down 0.5 percent to $46.47.
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)