By  on January 21, 2009

Investors pushed retail stocks down 5.9 percent Tuesday, focusing on what was happening — or not happening — in malls around the country rather than the swearing in of President Barack Obama on the National Mall in Washington.

The retail drop was the worst since Dec. 1 as the Standard & Poor’s Retail Index slid 16.51 points to 262.90 and analysts weighed in with fresh concerns about Polo Ralph Lauren Corp. and J.C. Penney Co. Inc. The Dow Jones Industrial Average sank 4 percent, or 332.13 points, to 7,949.09 on fears the banking sector might need even more cash to stay afloat.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus