Wednesday, November 27, 2019

Big Day for Retail

As we head into Black Friday and the holiday shopping season, there were some bright signs for retail stocks yesterday. Among the good news:

  • Best Buy posted quarterly earnings that beat analyst expectations, and raised its fiscal 2020 earnings forecast, sending its stock up more than 9 percent.
  • Dick’s Sporting Goods rallied more than 18 percent on better-than-expected earnings.
  • Amazon shares closed 1.3 percent higher. 
  • The SPDR S&P Retail ETF, a broad-based basket of retail stocks, climbed 0.6 percent.

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