Retail stocks slid 0.5 percent Wednesday, limping into the final trading session of a year that, at least on Wall Street, marked a dramatic revival for the sector.
The S&P Retail Index fell 2.21 points to 416.27 Wednesday as the Dow Jones Industrial Average dipped just 3.10 points, less than 0.1 percent, to 10,548.51. With one day left, retail stocks rebounded 49.1 percent in 2009, outstripping the Dow’s 20.2 percent rally. After a turbulent and crisis-pocked 2008, equities benefited from the stabilization of credit markets, the rightingof the banking sector, the return of GDP growth and a general feeling that a second Great Depression had been averted.
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)