Holiday Shopping Rebounded With Strong Gain - NRF

Investing.com

Published Jan 17, 2020 01:12

Updated Jan 17, 2020 01:38

Holiday Shopping Rebounded With Strong Gain - NRF

Investing.com – The market was hesitant about retail sector at the close of trading yesterday after Target (NYSE:TGT) reported disappointing holiday sales.

But the spring was back in the step of retail investors Thursday after strong government numbers were backed up by a bullish report on holiday shopping from the National Retail Federation.

SPDR S&P Retail ETF (NYSE:XRT) was up 1% in midday trading.

Walmart (NYSE:WMT) gained 0.4%, Amazon.com (NASDAQ:AMZN) rose 0.5%, Nordstrom (NYSE:JWN) was up 0.6% and TJX Companies (NYSE:TJX) climbed 1.2%.

Target (NYSE:TGT) lost another 0.9% today as it looked like more of the outlier in a overall strong holiday period.

Core retail sales, which exclude autos, popped 0.7% in December, the Commerce Department reported before the bell.

And holiday retail sales rose 4.1% to $730.2 billion from the same period a year ago, the National Retail Federation reported during trading.

That rise was at the high end of the NRF’s October guidance and well ahead of the 2.1% gain seen in 2018.

“This was a healthy holiday season, especially compared with the decline in retail sales we saw at the end of the season in 2018,” NRF Chief Economist Jack Kleinhenz said in a statement. “Despite a late Thanksgiving and worries about tariffs, the consumer didn’t go away. We’ve had months of strong employment numbers, high wages and strong household balance sheets.”

Get The App
Join the millions of people who stay on top of global financial markets with Investing.com.
Download Now

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes