LOW

Lowe's Companies, Inc.

177.36
USD
1.54%
177.36
USD
1.54%
170.12 263.31
52 weeks
52 weeks

Mkt Cap 122.81B

Shares Out 692.43M

Chat
Send me real-time posts from this site at my email

Retail stocks sell off as investors fade the Fed's soft landing hopes

The retail sector saw sharp drops on Thursday with the Federal Reserve's well-telegraphed decision to hike interest rates unleashing more concerns from investors on the impact of a recession on consumer spending. Despite the talk from the Federal Reserve about a soft landing with interest rate increases now progressing, eight out of ten small business owners surveyed by CNBC said they expect a recession this year. The fear is that consumers will tighten as the macro pressures build. Discounters Ollie's Bargain Outlet Holdings (NASDAQ:OLLI -5.8%), Big Lots (NYSE:BIG -4.5%), BJ's Wholesale Club Holdings (BJ -4.8%), Costco (COST -4.8%) and PriceSmart (PSMT -4.1%) also moved lower. Mall stocks like Lululemon (LULU -5.8%), Dillard's (DDS -5.5%), Nordstrom (JWN -5.9%), Children's Place (PLCE -5.4%), Carter's (CRI -5.1%), Gap (GPS -3.8%), Ross Stores (ROST -3.5%), American Eagle Outfitters (AEO -4.1%), Boot Barn (BOOT -3.4%) and Citi Trends (CTRN -5.2%) were also in retreat. Retail bellwethers Walmart (WMT -1.3%) and Target (TGT -2.8%) were not immune to moves into negative territory.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue