Retail shares fell a record 7.9 percent Thursday as investors continued to trade on economic and credit fears and the industry pondered how to adapt to the financial meltdown.
The Standard & Poor’s Retail Index plunged 23.89 points to 276.88. The top five declines since the index was recalibrated in mid-2002 have all occurred over the last three weeks as the credit crunch spread overseas and unprecedented steps to add liquidity to the market failed to sooth investor psychology.
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)