SOME RETAILERS’ SHARES SLIP AS FEAR OF INFLATION HITS DOW

NEW YORK — Some retailers took a hit Tuesday as a stronger-than-expected August retail sales report from the government rekindled investors’ fear of inflation and helped push the Dow Jones Industrial Average down 120 to 10,910.33.
Among the broadline retailers that closed lower were Dayton Hudson, down 1 13/16 to 57 3/16; Wal-Mart, 1 1/16 to 46 15/16; Bradlees, 1 1/2 to 14 1/4; and Kohl’s Corp. down 1 1/2 to 75 15/16. Among specialty stores, Ann Taylor lost 1 1/4 to 42 11/16; Bebe fell 2 11/16 to 26 1/4, and Urban Outfitters slid 1 1/4 to 27 1/8. Internet retailer Alloy Online lost 1 7/16 to 14 7/8.
Vendors in declines included Tommy Hilfiger, down 1 1/8 to 32; VF Corp., 1 3/16 to 30 5/8, and Nike, 1 3/16 to 54 13/16. Tarrant Apparel fell 1 1/16 to 12 1/4 and Oxford Industries gave up 1 1/16 to 21 7/8.
Some retailers turning in gains were Abercrombie & Fitch, up 1 1/16 to 40 15/16, and Lands’ End, 1 1/8 to 62 1/4.
Among vendors, Estee Lauder gained 2 15/16 to 43 1/2 after it was upgraded by both Merrill Lynch and Salomon Smith Barney.