DBI - Mall stocks get a lift from Moderna vaccine development

Investors are playing the long game on apparel retail stocks after Moderna reported a 94.5% efficacy rate with its COVID-19 vaccine in a Phase 3 trial. Gainers include Nordstrom ([[JWN]] +3.4%), Dillard's ([[DDS]] +4.9%), Kohl's ([[KSS]] +2.6%), Macy's ([[M]] +0.9%), Designer Brands ([[DBI]] +3.8%), Express ([[EXPR]] +6.5%), G-III Apparel ([[GIII]] +4.3%), Chico's FAS ([[CHS]] +4.0%), American Eagle Outfitters ([[AEO]] +0.5%), Shoe Carnival ([[SCVL]] +0.8%), Gap ([[GPS]] +1.3%) and Abercrombie & Fitch ([[ANF]] +0.2%). Analysts have been slightly lowering Q4 sales estimates on many of the above names due to the expectation that COVID-19 restrictions could cut even deeper into brick-and-mortar holiday shopping to divert more sales to Amazon, Target and Walmart.

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Mall stocks get a lift from Moderna vaccine development