PRPL - Walmart Lululemon and Wayfair slide as Target earnings weigh heavy in retail sector
Tractor Supply Company (NASDAQ:TSCO -9.5%), Ulta Beauty (ULTA -7.6%), Williams-Sonoma (WSM -12.9%), ThredUp (TDUP -7.8%), AutoNation (AN -6.5%), Purple Innovation (PRPL -8.4%), Academy Sports and Outdoors (ASO -11.5%), Wayfair (W -6.8%), Lululemon (LULU -7.2%), and Etsy (ETSY -6.3%) are just a smattering of the retail names being smacked around after Target disappointed investors with a sector-rattling drop in guidance. Of note, retail heavyweights Walmart (WMT -5.1%) and Amazon (AMZN -3.8%) are also both lower following the Target bombshell. Looking ahead at the setup for retail, Quo Vadis analyst John Zolidis thinks athletic apparel and footwear could be at risk given more discretionary product mix, benefit from stimulus last year and late start to spring weather. That list would include Nike (NKE -2.6%), Foot Locker (FL -2.5%), Under Armour (UAA -1.8%) and Adidas (OTCQX:ADDYY -4.5%) as stocks to monitor. See the trading chart on Walmart with its hitting a new 52-week
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Walmart, Lululemon and Wayfair slide as Target earnings weigh heavy in retail sector