Retail has had a rough year. One of the worst-performing groups in the stock market for 2019, retail stocks have had difficulty mitigating the effects of the ongoing U.S.-China trade war and consumers’ shifting shopping preferences, with names like Macy’s and Gap notching double-digit losses for the year. The SPDR S&P Retail ETF, also known
Macy’s on Thursday reported its first same-store sales decline in two years, casting blame on warmer weather and weak traffic at some shopping malls. Because of the poor results, the department store chain also slashed its full-year outlook. Macy’s stock was last down about 3% after plummeting more than 10% following the earnings release. Here’s
Retail is set to reverse. That’s the call Mark Newton, founder and president of Newton Advisors, made Wednesday on CNBC’s “Trading Nation” after seeing the SPDR S&P Retail ETF (XRT), which tracks the sector’s top stocks, fall more than 3% week to date in the wake of weak earnings reports from Kohl’s and Urban Outfitters.
Target’s earnings on Wednesday crushed estimates, and the stock market rewarded the retailer. But things have not been great for many other retail store brands that recently reported quarterly earnings. Still, a relief rally could be looming for some of the hard-hit retailers like Home Depot, based on a CNBC analysis of recent Black Friday
It’s a big week for retail. Big names like Walmart, J.C. Penney and Burberry are gearing up to deliver their quarterly reports this week, hot off Chinese e-commerce giant Alibaba’s record-breaking Singles Day, which the company has rebranded to the 11:11 Global Shopping Festival. On Friday, Wall Street will also get a read on retail sales when
One of the worst-performing retail stocks this year just broke down even more. Gap shares tumbled more than 7% on Friday after CEO Art Peck stepped down and the company cut full-year earnings guidance below consensus. The stock is down more than 35% for the year, while the XRT retail ETF has climbed 8% over