News of the apparent bailout of CIT Group Inc. helped lift retail stocks to their highest level of the year Monday and contributed to strong gains throughout the equity markets.
The S&P Retail Index rose 6.69 points, or 2 percent, to 342.23 as the markets closed, just beating out the previous high-water mark of 342.1 established on May 5 and its second best showing, a 342 close on June 2.
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)