Retail stocks in the U.S. eked out small gains today as major indices on both sides of the Atlantic weathered declines.
The S&P 500 Retailing Industry Group was up less than 0.1 percent to 921.81 for the day while the Dow Jones Industrial Average and S&P 500 both tracked down 0.3 percent, to 15,973.13 and 1,802.62, respectively. The S&P 500 pulled back from record territory Monday.
J.C. Penney Co. Inc. logged the largest gain among U.S. retailers tracked by WWD, rising 3.6 percent to $8.73, while PVH Corp. increased 3.5 percent to $131.87 despite fourth-quarter guidance that fell below Wall Street’s expectations.
Coming back from steeper declines earlier in the day, Burlington Stores Inc.’s shares closed down 7.8 percent to $25.92, with investors apparently disappointed by the off-price chain’s projection of fourth-quarter comparable-store sales growth of between 2 and 3 percent after generating third-quarter comps of 3.9 percent.
Also among the decliners were Aéropostale Inc., down 4.6 percent to $8.55; American Apparel Inc., 4.2 percent to $1.15; New York & Co. Inc., 3.8 percent to $4.10; Zumiez Inc., 3.1 percent to $24.41, and American Eagle Outfitters Inc., 3 percent to $14.39.