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Opening Glance: Apparel makers down on oil prices



By AP
06 June 2008 @ 10:06 am EST

NEW YORK - Shares of apparel makers dropped early Friday along with the broader market because of rising oil prices and a bigger-than-expected jump in unemployment.

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JNY 13.83 1.07
VFC 62.9 5.14
LIZ 12.16 -0.18
RL 49.55 2

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The Labor Department said the nation's unemployment rate rose to 5.5 percent in May from 5 percent in April. The rate, logging its biggest monthly rise since February 1986, is now at its highest level since October 2004.

How shares of some apparel makers performed shortly after the market opened:

Jones Apparel Group Inc. fell 60 cents to $16.12.

VF Corp. slipped 56 cents to $73.81.

Polo Ralph Lauren declined $1.47, or 2.1 percent, to $68.10.

Liz Claiborne Inc. shed 41 cents, or 2.4 percent, to $16.87.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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