A small decline on Friday kept retail stocks from advancing for the week but with an increase in October as the month drew to a close.
The S&P Retail Index was down 0.2 percent to 466.43 on Friday, leaving it down 0.6 percent for the week but up 1.9 percent for the just-concluded month.
Year-to-date, retail stocks are ahead 13.5 percent, stronger than the Dow Jones Industrial Average’s 6.6 percent expansion and even the 10.5 percent upward pace set by the Nasdaq Composite Index.
Of the 172 issues tracked daily by WWD, 67 were up last week, 104 were down and one was flat. The largest decline last week came from Jones Group Inc., which lost 24.4 percent of its share value following an unexpected decline in third-quarter profits. Two other firms with disappointing earnings, Revlon Inc. and Volcom Inc., gave back 21.2 percent and 19.2 percent, respectively, of their stock prices over the course of the week.
Most overseas markets declined last week, but only Tokyo’s Nikkei 225, with a 1.8 percent decline, was off for the month. Shanghai’s SSE Composite Index rose 12.2 percent in October. Year-to-date, the Nikkei is down 12.7 percent while Germany’s DAX is up nearly as much — 10.8 percent.
U.S. stocks sputtered last week as investors wondered whether the Federal Reserve would provide enough new stimulus to aid the economic recovery.