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Retail Stocks Point to a Better Future, Hopefully

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Individual stocks in fashion are swinging wildly, reflecting some of the craziness in the market.

The signs of the COVID-19 damage are everywhere. Macy’s Inc. posted a first-quarter net loss of $652 million Tuesday morning while Signet Jewelers said it would permanently close nearly 400 stores this year.

Stocks react to day-to-day changes at companies — and often with brutal efficiency — but the stock market overall is a forward-looking bet on where the economy is going.Iconix Brand Group Inc. shot up 62.4 percent to $1.77, and Lululemon Athletica Inc., inched up 0.4 percent to $316.40 on Tuesday while TJX Cos. Inc. slipped 2.1 percent to $56.24; Macy’s Inc. dropped 7.1 percent to $8.87; Signet fell 16.2 percent to $14.16, and Fossil Group Inc. declined 37.9 percent to $5.03.

Investors are also easily swayed by the elixir of low interest rates and mollified by the trillions of dollars Washington has pumped into businesses to prop them up when the coronavirus sent people home in mid-March.

 

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Hope !.....there is Hope !

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