Retail’s Having Its Worst Month In Nearly 5 Years, But There Are Opportunities In The Group

In Daily Commute by MR Magazine StaffLeave a Comment

Retail is getting crushed amid the broad market sell-off. The group is down nearly 9 percent since the start of October, on track for its worst monthly performance since January 2014. Among the names hardest hit within the XRT this month included Stitch Fix, Wayfair, DSW and Tiffany. But some say the future of retail stocks, at least in the near term, looks promising. “I really expect the surge in retail to continue, because at the end of the day the consumer story hasn’t changed at all,” said Mark Tepper, president and CEO of Strategic Wealth Partners. Tepper is particularly bullish on shares of Nordstrom, a legacy retailer he believes has evolved with changing customer needs. Read more at CNBC.

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