Retail Stocks Climb Friday
New York City, Retail stocks performed well on Friday, as the CSA composite gained 0.86% to end the week at 2781.64. But the Dow Jones Industrial Average did much better, up 1.42% on the day. Dollar Tree Stores was one of the days biggest gainers, up 3.9%. Pep Boys and Linens ‘N Things were close behind, up 3.6% and 3.5%, respectively. Wet Seal dropped 5.5% to $6.29 per share.
New Chairman Named for Macy’s Florida
Cincinnati, Federated Department Stores announced today that Julie Greiner, formerly senior executive VP of the company’s Bloomingdale’s division, has been named chairman and CEO of its Macy’s Florida division. Greiner succeeds Timothy Adams, who was recently named chairman and CEO of Macy’s Home Store.
Macy’s Florida is headquartered in Miami and operates 61 stores throughout the state.
June Sales Show Strength
New York City, Shoppers fighting the heat helped lift retail sales in June, despite concerns over rising fuel prices. Teen-focused retailers performed well once again, and Wal-Mart Stores showed strong increases. Wal-Mart said its June comparable-store sales rose 4.5% at stores in the United States, beating its forecast of 2% to 4%. Luxury leader Nordstrom also had a strong month, posting an 8.1% comp-store gain.