Retail shares advanced 4.6 percent Friday, snapping a five-day losing streak following reports that President-elect Barack Obama plans to name New York Federal Reserve president Timothy Geithner as Treasury secretary, but both Saks Inc. and Nordstrom Inc. missed out on the rally following scrutiny from debt watchdogs.
The Standard & Poor’s Retail Index ended the day up 9.84 points to 223.34, rising from a record low set Thursday as investors shied away from stocks connected to consumer spending. The Dow Jones Industrial Average jumped 6.5 percent, or 494.13 points, to end the week at 8,046.42.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"