Abercrombie & Fitch will reposition its surfer-themed Hollister chain as a fast-fashion brand, hoping to better compete with rivals like Forever 21 and H Sara Germano reports on the News Hub. Photo: Getty Images.
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Target’s fourth-quarter profit was nearly halved, cut down by a weak holiday season and a massive data breach that spooked customers. But the stock is up today on the news. Spencer Jakab joins MoneyBeat. Photo: Getty Images.
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Target’s fourth-quarter profit was nearly halved, cut down by a weak holiday season and a massive data breach that spooked customers. But the stock is up today on the news. Spencer Jakab joins MoneyBeat. Photo: Getty Images.
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Healthier U.S. consumers bode well for retail stocks: Barron"s
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NEW YORK
NEW YORK (Reuters) – Optimism about a strong holiday sales season in the United States led Barron’s to tout nine retail store stocks in its November 25 edition.
Although there are six fewer shopping days between Thanksgiving and Christmas this year and the S&P Retail Select Industry index is up 42 percent year to date, retail store trade group NRF forecast that sales this year should rise 3.9 percent over last year.
That led reporter Jacqueline Doherty to write that “good shoppers can always find bargains” in the stock market.
Barron’s list of potential winners are: Bed Bath & Beyond Inc (BBBY.O), Home Depot Inc (HD.N), Macy’s Inc (M.N), Coach Inc (COH.N), Chico’s FAS Inc (CHS.N), Urban Outfitters Inc (URBN.O), Dollar General Corp (DG.N), Dillards Inc (DDS.N) and Kohl’s Corp (KSS.N).
The paper said the particularly dramatic rise in the stock price and price-to-earnings ratios of Restoration Hardware Holdings Inc (RH.N) and Michael Kors Holding Ltd (KORS.N) suggest “limited” future advances in those stocks.
(Reporting By Jed Horowitz; Editing by Maureen Bavdek)
Stocks higher following retail sales increase
Bankrupt Alabama county prices nearly $1.8 bln of bonds for retail buyers
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Nov 15 (Reuters) – Alabama’s bankrupt Jefferson County priced nearly $ 1.8 billion of sewer revenue debt on the first day of a two-day retail order period, a market source said on Friday.
The pre-sale period reserved for wealthy individuals and other relatively small investors will continue on Monday. Institutional pricing is set for Tuesday.
No further details such as pricing were available at this time.
Citigroup is the senior manager on the sale.
A strong reading for the nation’s economic growth masked underlying weakness. Kathleen Madigan discusses the outlook.
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A strong reading for the nation’s economic growth masked underlying weakness. Kathleen Madigan discusses the outlook.
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