(Retail winners article updated with commentary from Jim Cramer and closing stock prices.)
NEW YORK (
) -- Retailers rallied again on Thursday following the euro higher.
"Retail's ridiculous. That it is up today on no American news shows you it has become hostage to a China/Europe-led double dip," Jim Cramer wrote
today. "This connection is both hilarious and stupid, as retail is responsive first to employment, second to household wealth effect (including stocks and housing), third to consumer confidence (arguably the sum of the other two), fourth to disposable income after taxes and fifth to gasoline prices. None of those matter in this crazy market."
Nonetheless, the S&P Retail Index ended the day up 3% to 435.02, led up by one of the biggest winners,
On Wednesday, the men's apparel retailer reported better-than-expected first-quarter earnings. It also foresees second-quarter same-store sales increasing, with a boost from seasonal sales of tuxedos.
New York Post
also revealed that Men's Wearhouse may be looking to expand into the women's business, but the retailer refuted these claims.
Shares of Men's Wearhouse surged 18.9% to close at $22.20.
climbed 4.4% to $40.83, after posting first-quarter profit that more than tripled and, as a result, lifted its full-year outlook.
Another highlight of the quarter was a 51% surge in same-store sales. Lululemon now expects 2010 earnings in the range of $1.05 to $1.10 a share, from prior guidance of $1 to $1.05.
Women's retailers are on an upswing with
increasing 4.9% to end the day at $21.15,
New York & Company
spiking 16.1% to $2.53, and
growing 6.6% to $12.32.
Earlier in the week, New York & Company lost as much as 60%, falling to a new low of $2.05 a share, after it said it expects to post a bigger loss in its second quarter.
Talbots also took a hit this week despite reporting on Monday a narrower first-quarter loss. Its forecast, however, disappointed Wall Street.
( BGP) is another notable gainer, spiking 24.6% to close at $1.57.
advanced 7.1% to $10.53,
rose 7.8% to $14.16,
Even those stocks that were pressured earlier in the day jumped on the green bandwagon by the time the final bell rang.
, for one, fell earlier in the day before recovering slightly, following its battle with
over its pharmacy benefits management business.
CVS said on Wednesday that it is kicking Walgreen out of its PBM at the end of the month. The move comes after Walgreen announced earlier in the week that it will no longer handle prescriptions managed by Caremark because of disagreements over CVS's business practices and drug pricing.
Walgreen had been seeing about 7%, or $4.5 billion of its revenue, come from Caremark plans.
was one of the few retail stocks in the red in midday trading, but by the close the stock shot up tk% to tk.
Retailers will face two metrics due out tomorrow, May retail sales and Michigan Consumer Sentiment.
-- Reported by Jeanine Poggi in New York.
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