Retail stocks advanced 0.9 percent for the week as hopes of a global economic rebound increased, but a fresh reading of consumer balance sheets for May showed consumers were squirreling away more for savings even after getting government stimulus income.
Despite a rise for the week, the S&P Retail Index dipped 0.1 percent, or 16 points, to 322.89 Friday. The Dow Jones Industrial Average fell 0.4 percent, or 34.01 points, to 8,438.39 Friday and was down 1.2 percent for the week.
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)