Retail sales on solid footing amid pandemic pressures - NRF
Aug. 14, 2020 11:01 AM ETSPDR S&P Retail ETF (XRT), XLY, VCR, FDIS, RTH, EMTY, RETL, IYC, IYK, WANT, FXD, UCC, PASS, RCD, SCC, UGE, SZK, JHMC, ISHPM, XLY, RTH, VCR, IYC, IYK, TPR, SPG, PVH, XRT, RCD, SZK, SCC, UGE, UCC, FXD, RETL, FDIS, JHMC, ISHP, EMTY, WANT, PASSBy: Clark Schultz, SA News Editor24 Comments
- The SPDR S&P Retail ETF (XRT +0.5%) is a mild outperformer after retail sales came in solid for July in comparison to expectations.
- "Retail sales are starting the third quarter on a solid footing considering the nosedive we saw this spring, but we have to remember that there’s uncertainty about economic policy and that the resurgence of the virus is putting pressure on the fledgling recovery," notes National Retail Federation Chief Economist Jack Kleinhenz.
- "While households are spending, they are anxious about their health and economic well-being, so they are being pragmatic. The amount of uncertainty about forecasting is huge as we look toward the second half of the year, and what happens with the economy comes down to what the coronavirus allows us to do," he adds.
- Retailers like Macy's (NYSE:M) and apparel names in the S&P 500 like PVH Corp. (NYSE:PVH), Tapestry (NYSE:TPR) and mall operator Simon Property (NYSE:SPG) are among the biggest gainers in the main gauge.
- ETFs: XLY, XRT, VCR, FDIS, RTH, EMTY, RETL, IYC, IYK, WANT, FXD, UCC, PASS, RCD, SCC, UGE, SZK, JHMC, FTXD
- Dig deeper: Retail sales breakdown