Over the past few days, retail stocks as a group have recovered in price, some quite dramatically.
Some, but not all. One instance of the latter is clothier Express (NYSE: EXPR) , whose stock according to market Intelligence - opens in new tab" data-auth="NotApplicable" data-linkindex="0" data-uw-rm-brl="false" data-uw-rm-ext-link="na" data-uw-styling-context="true" href="http://marketintelligence.spglobal.com/"> S&P Global Market Intelligence was down by over 21% week to date as of early Friday morning before market open. Investors remained cautious about the company despite the estimates-beating quarter it reported over the course of the week.
The surprisingly weak first-quarter results of onetime retail investor darling Target , published last Wednesday, sent shock waves throughout the sector. One typical reaction was that of Citigroup analyst Paul Lejuez, who on Monday downgraded a clutch of popular retail stocks.
For further details see:Why Express Stock Slowed Considerably This Week