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financial

Retail Stocks End Tough Week on Upswing

Retailers outperform on Wall Street, rising 1 percent.

By and

Retail stocks ended the week on an up note.


The S&P 500 Retailing Industry Group gained 1 percent, or 6.95 points, to 734.94 today. Even so, the sector declined 2.4 percent for the week, falling sharply after the bombings at the Boston Marathon and as investors fretted over the economy.  The Dow Jones Industrial Average inched up 0.1 percent, or 10.37 points, to 14,547.51, a decline of 2.1 percent for the week. Blue Chip stocks were held back by International Business Machines Corp., which fell 8.3 percent to $190 after disappointing first-quarter results.  


The fashion-industry gainers for the day included Estée Lauder Cos. Inc., ahead 3.7 percent to $69.67; True Religion Apparel Inc., 3 percent to $26.63; Maidenform Brands Inc., 2.6 percent to $17.96, and PVH Corp., 2.2 percent to $106.08.


European stocks also gained.


The FTSE MIB in Milan led the way, up 1.8 percent to 15,760.78, followed by Paris’ CAC 40, up 1.5 percent to 3,651.96. The FTSE 100 in London climbed 0.7 percent to 6,286.59. Frankfurt’s DAX lost 0.2 percent to 7,459.96.


The pound traded at $1.51 against the dollar while the euro fetched $1.31.


Retail and luxury stocks were similarly upbeat, with the day’s biggest gainers including Inditex, up 4.4 percent to 96.97 euros; Tod’s, 2.3 percent to 105.90 euros, and Kering, 2 percent to 166 euros. L’Oréal jumped 4.3 percent to 126.40 euros after it said Thursday that first-quarter sales gained 5.1 percent.


Mulberry and Safilo both dropped 1.1 percent, to 8.95 pounds and 10.71 euros, respectively.

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