June comparable-store sales flexed some unexpected muscle, but the lift may be more of a short-term mirage created by economic stimulus checks and store promotions than revitalized consumers.
With the last of the government stimulus checks being mailed today, Wall Street was hardly sold on the idea of a turnaround as the Standard & Poor’s Retail Index slid 3.2 percent even as the Dow Jones Industrial Average rose 0.7 percent. The S&P 500 was up 0.7 percent.
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)