Strong data, Walmart forecast bump lift US retail stocks

Nordstrom

15/08/2024 14:55

** Shares of U.S. grocers jump after Walmart  WMT.N  raised
its sales and profit forecasts for a second time in 2024
    ** Walmart jumps 7.3% and rival Target  TGT.N  gains 5.3%
    ** Dollar Tree  DLTR.O  climbs 8.5% and Dollar General
 DG.N  rises 5.7%
    ** Off-price retailers TJX Cos Inc  TJX.N  and Ross Stores
 ROST.O  gain 2.7% and 4%, respectively
    ** Home Depot  HD.N  rises 2.6% while rival home improvement
chain Lowe's  LOW.N  up 1.7%
    ** Department store Macy's  M.N  adds 5.3%, Nordstrom
 JWN.N  up 6% and electronics retailer Best Buy  BBY.N  gains 3%
    ** Adding to the upbeat mood, latest data showed U.S. retail
sales, which correspond most closely with the consumer spending
component of GDP, rose more than expected in July
    ** The S&P 500 consumer staples index  SPLRCS  adds 2.4% on
Thursday versus 1% rise in the S&P 500  .SPX  
    ** SPXRT up 12.3% YTD compared to 15.4% rise in SPX

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))