By  on July 20, 2009

Retail stocks last week enjoyed their third positive week in the last four — and their best since late March — despite the drama surrounding CIT Group Inc.

Following a 0.5 percent increase on Friday, the S&P Retail Index finished the week at 335.54, an 8.4 percent jump over the prior week. Although now up 20.2 percent for the year, the index hadn’t performed as well since the week of March 23, when it registered a 9.5 percent gain. However, the index closed below 300 — at 296.88 — that week as hopes of a gradual recovery in retail sales began to gain traction.

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