Retail stocks dozed Thursday, slipping fractionally despite an unexpected but welcome decline in first-time jobless claims and a bit of action on the rumor mill, which continues to produce tales — tall or not — of pending private equity takeovers.
The S&P Retail Index fell 0.18 points, less than 0.1 percent, to 467.33 as the Dow Jones Industrial Average declined 12.33 points, or 0.1 percent, to 11,113.95. The Labor Department said initial jobless claims declined by 21,000 last week to 434,000, while economists were looking for claims to remain steady.
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)