It hasn't been the best week for the broader market. The S & P 500 is down about 1% week to date, as investors weighed fresh commentary from Federal Reserve officials on inflation and monetary policy, which heightened concerns of even higher interest rates. Several retail stocks bucked the overall market trend, however, on the back of strong quarterly reports. Walmart , for example, lifted its financial guidance and posted quarterly earnings that beat expectations.
Other retail stocks were also on pace to cap off a positive week. Bath & Body Works was the second-best performing stock, with shares surging more than 12% after topping expectations. TJX Companies ' stock also hit a fresh high, surging nearly 8% on solid earnings. About two-thirds of analysts say the retailer is a buy and offers more than 7% upside given its consensus price target. Daniel Loeb's Third Point also disclosed new positions in both retailers .
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