- Strong earnings report from Five Below and PVH seem to be swaying investors in the retail sector. The two late reporters gave a deeper look at Q1 trends than some of the earlier earnings disclosers. Investors may also be factoring in the heated battle in Congress over health care reform as an indication that the border tax proposal could face an uphill climb.
- Today's strong move in the U.S. follows a day in the Europe where retail names are beating out all sectors in the Stoxx Europe 600.
- Select retail gainers: Ascena Retail Group (ASNA +5.8%), Gap (GPS +3%), Buckle (BKE +6.2%), Tilly's (TLYS +3.9%), Office Depot (ODP +4.2%), Finish Line (FINL +4.5%), Stein Mart (SMRT +3.7%), Cato (CATO +4.1%) and Francesca's (FRAN +3.4%), Guess (GES +4.2%), Tuesday Morning (TUES +1.6%), Rite Aid (RAD +3.3%) and Boot Barn (BOOT +2.3%).
- Previously: Five Below +11% as organic growth remains on track (March 23)
- Previously: PVH up 7% as it beats in Q4, extends buyback (March 22)
- The S&P Retail ETF (NYSEARCA:XRT) is up 1.64%.