Retail earnings have generally been strong, but the charts of several names in the sector look scary. Walmart and Lowe's beat analyst estimates as consumers continue to spend. The trend is not all encompassing however, with some stocks under pressure as consumers trim choices and limit day-to-day spending. Against this backdrop, CNBC Pro screened the SPDR S & P Retail ETF for stocks that were forming a death cross chart pattern.
Ulta Beauty in particular, the analyst added, is facing stiffer competition which could hurt future earnings. "We also think Ulta is losing share to Sephora, reflective of a shift towards prestige beauty, and to Amazon from expanded offerings including in prestige with newer brands like Clinique and Lancôme," Astrachan said. Camping World Holdings Shares of the RV maker have declined about 24% in 2024 and is also close to forming a death cross.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »