ACI - Why Retail Stocks Were Climbing This Week
Retail stocks, including Wayfair (NYSE: W) , Albertsons Companies (NYSE: ACI) , Children's Place (NASDAQ: PLCE) , and Express (NYSE: EXPR) , all jumped this week as earnings season began to shift to the retail sector and as the S&P 500 touched another all-time high. Generally strong quarterly earnings and CPI data showing that inflation may be starting to cool off helped drive the broad-market index higher. That last item is good news in particular for retailers who can only pass on some costs to consumers before they start to lose business.
There was no single reason that all of these stocks gained this week but there were some common threads. As of market close on Thursday, Wayfair was up 20.3% for the week; Albertsons had gained 19.3%; Children's Place had increased 16.1%; and Express was up 9.5%.
Image source: Getty Images.
For further details see:
Why Retail Stocks Were Climbing This Week