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Target takes a victory lap around mall sector

May 22, 2019 1:42 PM ETTGT, AEO, ANF, GPS, BBWI, CHS, URBN, JILL, TLRD, GES, DBI, BKE, SCVL, CATO, EXPR, ASNA, TLYSBy: Clark Schultz, SA News Editor10 Comments
  • Apparel store stocks are being battered after the recent round of department store earning came in weak and mall peer Urban Outfitters (URBN -9.2%) guided for more margin contraction.
  • By all appearance, Target (TGT +8.9%) appears to have taken some apparel market share away from the mall group (comp sales +4.8%, digital sales +42%) in Q1. That trend could continue this summer, with Target execs stating today that the company's brand-new partnership with Vineyard Vines is already one of the most successful in its history.
  • Notable decliners include Tailored Brands (TLRD -8.2%), Ascena Retail Group (ASNA -8.9%), J. Jill (JILL -5.9%), American Eagle Outfitters (AEO -6.2%),  Abercrombie & Fitch (ANF -5.2%), Express (EXPR -4.2%), L Brands (LB -4.8%), Shoe Carnival (SCVL -4.5%), Buckle (BKE -5.1%), Cato (CATO -3%), Designer Brands (DBI -3%), Chico's FAS (CHS -3.1%), Guess (GES -3.1%), Tilly's (TLYS -2.2%). and Gaps (GPS -2.7%).

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