Despite news that might have caused outright panic a year ago — the bankruptcy of General Motors Corp., 345,000 new job losses and monthly same-store sales declines of more than 25 percent for both Neiman Marcus Inc. and Saks Inc. — retail stocks pushed ahead 4.8 percent last week.
The S&P Retail Index increased 15.20 points to 334.12 last week as the Dow Jones Industrial Average advanced 3.1 percent, or 262.80 points, to 8,763.13. Shares of Saks fell 1.8 percent for the week to $3.75. Neiman Marcus is privately held.
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)