By  on July 30, 2009

Retail stocks pushed ahead Thursday, rising 1.4 percent and establishing a new high for the year despite continued concerns about consumer spending.

The S&P Retail Index shot up to 359.42 early Thursday, but couldn’t sustain all the gains through the afternoon and closed ahead 4.72 points at 354.10. Retail shares have been testing levels not seen since early October, when the financial crisis was at full boil.

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