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Teen apparel retailers shake a lame Wall Street

By FashionUnited

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2014 was not off to a bright start in Wall Street, as the three benchmark indexes

traded lower on Thursday. Nevertheless, analysts pointed out that this is not necessary a sign of things to come, as the Dow Jones and S&P 500 finished 2013 much higher despite significant low days.

The Dow Jones Industrial Average dropped 0.75 percent while the broader S&P 500 shredded 0.85 percent. Nasdaq was down by 0.83 percent.

Breaking the rhythm, the main teen retailers, which offered a mixed perform with some ups and downs that shaped the session within the apparel niche market. American Eagle Outfitters and Urban Outfitters gained 2.4 percent and 2.3 percent respectively while Abercrombie & Fitch and Aeropostale lost 2.6 percent and 1.9 percent each.

In the UK, the pull-back in US and Asia markets overnight set the ground for a careful start to the day in London.

However, the coined as ‘bullish trading update’ from Next after the fashion retailer raised its profit forecast for the year following better-than-expected Q4 sales, lifted the sector´s stocks on Friday morning. Next shares jumped 475 pence on the back of the news, followed by Primark´s parent group AB Foods adding 44.5 pence and Marks & Spencer gaining 75 pence.

FashionUnited