Aug
23
Strong Consumption Is Breathing New Life Into Retail Stocks
ByU.S. retailers haven’t neutralized Amazon, but consumer spending is reinvigorating their stock prices all the same
U.S. consumer sentiment is so strong that it is even boosting shares of once-maligned retailers.
Target Corp.’s stock jumped 3.2% on Wednesday and gained another 0.9% on Thursday after the company reported its best quarterly results in more than a decade. The gains marked the first two record highs for the stock since 2015. The retailer’s shares are up 33% this year, far surpassing the S&P 500’s 6.9% rise…
