BBWI - 2 Thriving Retail Stocks in Thursday's Down Market
Thursday looked like it would be another weak day for the stock market, as investors reacted negatively to comments from various Federal Reserve officials about interest rates. Futures contracts on major market benchmarks were lower by around 1%.
Market participants have gotten a chance to digest financial results from a number of retail companies this week, and several more came out with their quarterly reports late Wednesday and early Thursday. Two particularly strong performers were Bath & Body Works (NYSE: BBWI) and Macy's (NYSE: M) , bringing some light to what otherwise looked like a gloomy start to the day on Wall Street.
Shares of Bath & Body Works showed substantial gains, rising 17% in premarket trading Thursday morning. The company's third-quarter financial results from late Wednesday afternoon indicated resilience in its business even under tough conditions, and Bath & Body Works expressed optimism about its future as the important holiday season approaches.
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2 Thriving Retail Stocks in Thursday's Down Market