Stocks Opened Lower after Retail Sales Data

U.S. stocks open lower on Thursday after surprisingly weak retail sales data. The Dow Industrial Average lately fell 108.72 points, or 0.43%, to 25,434.55. The S&P 500 was down 12.50 points, or 0.45%, to 2,740.53. The Nasdaq Composite declined 27.51 points, or 0.37%, to 7,392.87.

Sales at retailers fizzled in December and posted the biggest decline in nine years in a worrisome sign for the U.S. economy, according to a long-delayed government report. Retail sales sank 1.2% in December, the U.S. Census Bureau said Thursday.

Canada Goose Holdings Inc’s quarterly profit surged 64 percent, bolstered by growth at its direct-to-consumer operations that include online stores and company-owned retail outlets.The Toronto-based company said on Thursday net income rose to C$103.4 million ($78 million) or 93 Canadian cents per share in the third quarter ended Dec. 31, from C$63 million or 56 Canadian cents per share a year earlier.

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