WMT - Retail dichotomy: Walmart Ross Stores and TJX push higher while mall stocks lag
Ross Stores (ROST +10.1%) and TJ Companies (NYSE:TJX +5.1%) were two of the biggest gainers in the S&P 500 Index on Monday as investors tiptoed back into consumer discretionary stocks seen holding up amid macroeconomic pressures. Discounters Dollar General (DG +2.9%), Dollar Tree (DLTR +0.8%) and Ollie's Bargain Outlet Holdings (OLLI +1.4%) also started to cut into last week's sharp drop with some analysts suggesting consumers are already trading down with their consumer spending habits. Walmart (WMT)was also in recovery mode with a 3.00% gain to swing back over $120. Those gains ran counter to ongoing pressure in the mall sector amid reports promotional activity is incrementally higher this week. Express (EXPR -7.1%), Children's Place (PLCE -3.5%), Urban Outfitters (URBN -3.8%) and Abercrombie & Fitch (ANF -3.0%) were notable decliners. Sector watch: Target and retail were just crushed - these stocks may have been oversold.
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Retail dichotomy: Walmart, Ross Stores and TJX push higher while mall stocks lag