The International Council of Shopping Centers predicted comparable-store sales would rise modestly this holiday season, helping to push retail stocks up 1.7 percent Monday.
The S&P Retail Index perked up 6.39 points to 378.79 percent and most apparel vendors also gained steam. However, both Liz Claiborne Inc. and Jones Apparel Group Inc. missed the rally after Goldman Sachs & Co. analyst Benjamin Rowbotham downgraded the stocks to “Neutral” from “Buy.” Claiborne’s stock fell 1.3 percent to $5.29 as shares of Jones dipped 0.7 percent to $17.47.
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)