Retail stocks shed value as Thursday following reports on March comparable sales that disappointed investors, analysts and economists alike.
While the WWD Global Stock Tracker was up 0.6 percent to 116.84, just shy of its high, the S&P 500 Retailing Industry Group fell 0.4 percent to 1,132.79.
Other domestic markets performed better. The S&P 500, from which the retail index is derived, was up 0.5 percent to 2,091.18, and the Dow Jones Industrial Average was up 0.3 percent to 17,958.73
Nearly all companies reporting monthly results saw their stock prices retreat.
L Brands Inc., which reported a 9 percent gain for the month against Thomson Reuters’ consensus estimate of a 6 percent increase, was an exception, finishing flat at $94.50. Cato Corp. and Stein Mart Inc., both of which advanced more than expected — 12 percent and 11.4 percent, respectively — were down 0.2 percent to $38.87 and 0.6 percent to $12.18.
While those firms exceeded expectations, the two teen retailers remaining in the comp sample both fell short of them and paid a price. Zumiez Inc. was down 5.1 percent to $35.97 after gaining a less-than-expected 5.5 percent last month, and The Buckle Inc. fell 4.5 percent to $47.46 after reporting a 0.5 percent decline in comps.
After the markets closed, Gap Inc. reported a 2 percent comp advance overall, as Gap brand’s 7 percent decline and Banana Republic’s 3 percent slide offset by a 14 percent gain at Old Navy.
Shares slipped 2.3 percent to $41.75 in after-hours trading after rising 0.8 percent to $42.73 during regular trading hours.
Tracker stocks were led by Shanghai Metersbonwe, up 10 percent to 25.85 yuan, or $4.17 at current exchange, while The Buckle suffered the biggest dropoff.