Retail stocks dipped 0.8 percent Thursday as investors fretted over the credit worthiness of Greece and an unexpected rise in U.S. jobless claims.
The S&P Retail Index slid 3.24 points to 406.72 and the Dow Jones Industrial Average gave up 1.3 percent, or 132.86 points, to close at 10,308.26. Ratings agency Standard & Poor’s cut Greece’s long-term sovereign credit rating to “BBB-plus” from “A-minus” late Wednesday. Dubai, which through its Istithmar investment vehicle owns Barneys New York, has also had debt problems that riled investors.
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)