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Retail stocks drop for a second day; Costco raised

NEW YORK (MarketWatch) — Retail stocks declined for a second day after retailers’ less-than-expected June sales growth rate raised concerns that chains may have to increase discounts to clear unsold inventory ahead of the back-to-school season. The S&P Retail Index fell 0.2% to 392.13. Costco Wholesale Corp. rose 0.6% to $56.06 after its stock was upgraded to buy from neutral at UBS.