RETAIL STOCKS MOVE UP AS DOW JUMPS

NEW YORK — A number of retail stocks surged Friday as the Dow Jones Industrial Average roared ahead 235.24 to 11078.45.
Investors went on a buying spree after a government jobs report eased concern that wage inflation would prompt the Federal Reserve to raise interest rates again.
Retail stocks were also helped by generally solid same-store sales results posted last Thursday. Specialty stores, in particular, were large gainers Friday, including American Eagle Outfitters, up4 15/16 to 48 1/8; Ann Taylor, 2 3/4 to 38 1/4; Abercrombie & Fitch, 1 5/8 to 39 1/4; Intimate Brands Inc., 13/16 to 40 1/16 and The Limited, 3/4 to 39 3/16. Talbots gained 5/16 to 36, after surging 4 11/16 on Thursday on the strength of its robust August sales report.
Other retailers perking up Friday were Ames Department Stores, up 1 1/8 to 29; Wal-Mart, 1 11/16 to 47 3/8; Tiffany & Co., 1 3/4 to 52 3/4; Federated Department Stores, 1 5/16 to 46 1/16; Kohl’s Corp., 2 1/8 to 76, and Zale Corp., 1 to 35 3/16.
Sears, Roebuck shares continued to slide, declining 1 1/16 to 32 7/16, after the retailer issued a profit warning and announced dramatic management changes Thursday.

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