Retail shares fell to a four-month low Thursday, dropping 2.7 percent with weakness across the fashion spectrum weighing on Wall Street, but apparently not on The Yucaipa Cos.’ Ron Burkle, who took a 6 percent stake in American Apparel Inc.
The S&P Retail Index lost 11.36 points to close at 405.38 — territory not seen since mid-February. It’s been a dramatic retreat for the index that just under two months ago tiptoed right up to the 500 mark. Among the fashion firms shedding market value were Macy’s Inc., down 6.2 percent to $18.85; AnnTaylor Stores Corp., 5.6 percent to $17.36; American Eagle Outfitters Inc., 4.6 percent to $12.13; Nike Inc., 4 percent to $69.63; Nordstrom Inc., 4 percent to $35.38, and Target Corp., 3.7 percent to $50.73.
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)