PTON - Retail rotation faces reversal with COVID Black Friday: Sector Watch

Black Friday and Cyber Monday are posing a new challenge, even with their definitions, for retailers as the government advises against a traditional holiday and stores across the country face lockdown restrictions.The SPDR S&P Consumer Discretionary ETF (XLY), up 0.2% for the week, is a great proxy for the move to vaccine-boosted recovery plays.The department store stocks that have been hammered in the face of the online retail rally and pressured in the absence of any mall traffic are the best winners in the S&P. The continuation of the rally in the mall-based names started with earnings from Kohl’s (KSS). The chain’s bullish outlook on its call overcame a bigger-than-expected decline in comparable sales.That pushed out-of-favor issues like Nordstrom (JWN), up 23% last week, L Brands (LB), up 16%, which also popped on earnings, and Gap (GPS), rising more than 10%.At the same time, the stalwart home improvement stocks eased after

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Retail rotation faces reversal with COVID Black Friday: Sector Watch