Retail Stocks: Oil worries hit retail shares

Oil worries hit retail shares; Charming Shoppes jumps NEW YORK (MarketWatch) - Retail sector shares opened lower Wednesday against concerns about rising oil prices, though Charming Shoppes Inc. shares jumped after a management shake-up of the women's clothing chain. The S&P Retail Index fell 1.1% to 353.69 in early trading. Reports that major oil exporter Iran had test-fired a long-range missile ignited concerns that any tension it may have with the West could choke off crude oil supplies and spark another oil rally. Crude oil futures bounced back Wednesday from their biggest drop in nearly four... [read full story]