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Retail stocks stumble after trio of weak sales updates

Published 08/29/2017, 10:06 AM
Updated 08/29/2017, 10:06 AM
© Reuters.  Retail stocks stumble after trio of weak sales updates

© Reuters. Retail stocks stumble after trio of weak sales updates

  • There's some collateral damage in retail after Finish Line (FINL -26%), J. Jill (JILL -14.5%) and Best Buy (BBY -10.3%) disappoint with earnings.
  • Finish Line lowered guidance dramatically, while Best Buy called its Q2 mid-single digit comp "not the new normal" to take the sail out of an initial premarket rally.
  • Decliners include Conn's (CONN -4.2%) from the BBY news and Shoe Carnival (LON:CCL) (SCVL -4.9%), Boot Barn (BOOT -3.8%), Caleres (CAL -2.2%), Christopher & Banks (CBK -7.5%) and American Eagle Outfitters (AEO -1.6%) from the Finish Line/J. Jill's developments.
  • The SPDR S&P Retail (MX:XRT) ETF (NYSEARCA:XRT) is down 1.12% on the day.
  • Now read: Catching A Falling Knife Like American Eagle Outfitters?


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