US retailers down on growing recession fears

Burlington Stores

05/08/2024 15:07

** Shares of major U.S. retailers down in early trading amid
broader market decline after fears of the United States tipping
into recession following weak economic data last week
    ** Retail behemoth Walmart  WMT.N  shares down ~1% and
smaller rival Target's  TGT.N  stock falls ~4%
    ** Department store chains Kohl's  KSS.N , Nordstrom  JWN.N 
and Macy's  M.N  shares are down between 5% and 7% 
    ** Off-price retailers TJX  TJX.N  falls 2.2%, Ross Stores
 ROST.O  down 2.7% and Burlington  BURL.N  dips 3.6%
    ** Shares of discount store Dollar Tree  DLTR.O  down 1% and
electronics retailer Best Buy  BBY.N  falls 3%
    ** Up to Friday's close, S&P 500 Consumer Discretionary
Distribution and Retail Index  .SPXRT  up ~9% YTD 

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))