JWN - Why Macy's Nordstrom and Other Retailers' Stocks Closed Lower Today
Shares of several apparel and accessories retailers closed lower on Thursday. The move follows a broad market decline on investor concerns about an increase in COVID-19 cases in some of the U.S. states that have reopened.
Here's where these companies' stocks ended Thursday's session with the percentage changes in price from Wednesday's close:
Investors in consumer-discretionary businesses (like department stores and apparel companies) have been betting for a while that the U.S. and other countries will be able to reopen their economies without a significant surge in coronavirus cases. That optimism has helped drive the broader stock market's gains over the last few weeks.