Debt downgrades for luxury retailers Nordstrom Inc., Neiman Marcus Inc. and Saks Inc. failed to blunt a leap on Tuesday in retail stocks, which posted their second-largest gain this year and their fifth advance in six sessions. Retail shares rose 5.4 percent and outpaced the broader market amid hints of stability in parts of a consumer economy in general free fall.
The S&P Retail Index perked up 13.74 points to 269.34, 17.7 percent above its March 9 level of 228.76. The Dow Jones Industrial Average rose a milder 2.5 percent, or 178.73 points, to 7,395.70.
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)