Retail’s respite from stock market declines lasted only a day, as investors pushed stores’ shares down 4 percent Tuesday on persistent fears shoppers will freeze their spending well into next year.
The Standard & Poor’s Retail Index fell 11.90 points to 287.10, giving back nearly half of Monday’s record-breaking 9 percent gain. Retail shares have fallen 27.5 percent since the end of August, just before the banking crisis and credit crunch shifted into high gear.
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)