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.
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)