There is lots of news out this morning, but even as equity futures point to a higher start, there is an underlying sense of anticipation to see what we get from the brick and mortar retailers this week. Key names in the sector report this week including:
Obviously, it’s been a difficult time for brick and mortar retailers as the pace quickens for bankruptcy filings as others rush into mergers to buy time. Those deals have moved the needle higher for names like Dillard's and GNC, while earnings surprises popped shares of GPRN and HSN, and an appliance deal with Amazon breathed renewed life into SHLD. Yet, the top five holdings of XRT hasn’t stopped the ETF from declining 6.7% this year.
Back to School to Save the Day
According to the National Federation of Retailers, this year’s back to school period should see spending rally toward all-time high levels established in 2012. For K -12, the folks at NRF see $29.5 billion; and for back to college, $54.1 billion.
The good news for department stores and discount retailers is more parents plan to make stops in those locations and clothing stores than plan to shop online.
I’m not sure about conviction for the market at the start of trading. The Dow Jones Industrial Average is up 9 days straight, which means would-be buyers will be motavated to buy into the close but not force the issue at the start.
|I know you have heard this by many of your fans. I just wanted to go on record. With now Eric Boiler I'm wondering if it's becoming a mission to try & take Fox News/Business down. Hang in there.|
Bob Medkeff on 8/7/2017 1:29:51 PM
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