Retail stocks on the rise; Walgreen buys Duane Reade

The S&P retail Index gained about 1% to 409.70.

For the week ending February 13, the International Council of Shopping Centers and Goldman Sachs estimate that weekly sales fell 1.6%.

"A severe blizzard dumped another heavy accumulation of snow in the East at midweek followed by a record-breaking snowstorm in the South from Dallas to Atlanta which hindered consumers' ability to shop," said Mike Niemira, ICSC's chief economist. "However, storm-induced pent-up demand is likely to be unleashed during the upcoming current week."

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- Posted: 2010-02-17 11:02:35

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