Select Retail Sectors Hang Onto Weekly Gains (FDO, DG, TUES, PCLN, EXPE, AMZN, KIRK, BBBY, PIR)
Earlier this week, the Commerce Department announced a -0.5% decline in June retail spending, the metric’s second decline in as many months. Despite the news, select retail sub-sectors were among the week’s top performers.
As a whole, the Discount Retailer Stock’s Index is ahead by 1.5% for the week.
In the online space, the Dotcom Retailer Index slipped into the red on the week. Online travel booking firms Priceline.com (PCLN) and Expedia (EXPE) have both gained more than 6% for the pereiod. Elsewhere, Bank of America analyst Justin Post slashed his rating from Buy to Neutral on Amazon.com (AMZN) on Thursday. Shares remain up on the week by just over 1% for the week.
Meanwhile, the Home Furnishing Retailer Stocks Index has climbed over 1% this week. Leading the group higher, specialty home decor and gift store Kirkland’s (KIRK) advanced 2.5%. Bed Bath & Beyond (BBBY) and Pier 1 Imports (PIR) both gave back more than -3% for the period.
For more on these stocks and the full list of tickerspy’s retail indexes visit tickerspy.com.
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