DLTH - Department store stocks rally as earnings outweigh Amazon shadow

The department store sector is shaking off some early jitters over news that Amazon is planning to open a few larger-format stores that will sell clothes. Macy's (M +17.4%), Kohl's (KSS +6.3%), Nordstrom (JWN +3.5%) and Dillard's (DDS +1.1%) are all higher after the sector earnings reports came in ahead of expectations. The broad mall sector is mixed on the day with Delta variant news still being weighed. Gainers include Express (EXPR +4.0%), Abercrombie & Fitch (ANF +3.5%) and Guess (GES +3.1%), while it is a rougher session for Victoria's Secret (VSCO -2.5%) after earnings, as well as Duluth Holdings (DLTH -1.8%) and Chico's FAS (CHS -0.9%). Meanwhile, Target (NYSE:TGT) has swung back around to post a 0.22% gain as more sell-side analysts weigh in positively on the long-term upside. Shares of TGT are still up 40% YTD even after the post-earnings selling pressure.

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Department store stocks rally as earnings outweigh Amazon shadow