URBN - Dollar Tree and Gap lead comeback rally in retail sector
Retail stocks are outperforming the broad market as the focus turns back to strong consumer spending trends and the ability for some companies to leverage down higher shipping, labor and commodity costs. Apparel retail stocks Gap (GPS +5.6%), Torrid Holdings (CURV +1.2%), Urban Outfitter (URBN +1.7%) and Abercrombie & Fitch (ANF +2.1%) are off to a strong start. Specialty retail stocks TravelCenters of America (TA +6.7%), Dollar General (DG +1.4%), Big Lots (BIG +1.4%), Children's Place (PLCE +2.2%), Build-A-Bear Workshop (BBW +2.0%) and Lands' End (LE +1.8%) are also early gainers. The grocery store sector is strong again with Sprouts Farmers Market (SFM +3.3%), Albertsons Companies (ACI +2.5%) and Kroger (KR +1.9%) in positive territory. Retail giants Target (TGT +1.6%) and Costco (COST +1.8%) are also solidly higher, while Dollar Tree (DLTR +15.5%) is outpacing everyone after dialing up some more buybacks and raising some price points.
For further details see:
Dollar Tree and Gap lead comeback rally in retail sector