DBI - Investors cautious on mall stocks as COVID reality outweighs vaccine enthusiasm
Mall names and department store stocks are underperformers as the rising rate of COVID-19 hospitalizations across a large number of U.S. states threatens store traffic again.While the vaccine news from earlier this week is still considered very promising, analysts have been pointing out since then the massive logistical hurdles still in place for delivery, refrigeration and distribution on a large scale. That means at least a few more months of soft foot traffic, including for the crucial holiday season. Notable decliners include Kohl's ([[KSS]] -9.9%), Nordstrom ([[JWN]] -9.4%), Dillard's ([[DDS]] -7.0%), Macy's ([[M]] -4.2%), Buckle ([[BKE]] -6.8%), Designer Brands ([[DBI]] -5.9%), Express ([[EXPR]] -6.3%), Children's Place ([[PLCE]] -6.2%), Guess ([[GES]] -5.9%), Ross Stores ([[ROST]] -5.0%), Zumiez ([[ZUMZ]] -5.2%), American Eagle Outfitters ([[AEO]] -4.2%), Gap ([[GPS]] -2.6%) and Urban Outfitters ([[URBN]] -4.5%).
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Investors cautious on mall stocks as COVID reality outweighs vaccine enthusiasm