Retail stocks search for direction as rates stay high

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 53 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 63%

Interest Rates Nyheter

Retail Sector,TJX Companies,Urban Outfitters

Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while ...

NEW YORK - Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared.

"The lower to mid-income segment is getting squeezed because of gas prices and groceries," said Greg Halter, director of research at Carnegie Investment Counsel. “They feel bad even though the economy is doing well.” The divergent performance of retail stocks has pushed investors to focus on companies whose consumers can continue to withstand higher interest rates or those that offer discounts on name-brand household items like clothing or groceries, such as warehouse club company Costco Wholesale.Halter’s fund has been buying shares of companies such as Walmart, Costco, and TJX Companies whose business models emphasize value for the consumer. Their shares are up 28%, 29% and 16% respectively.

Bokeh Capital Partners owns shares of Urban Outfitters, which are up over 20% this year. Kim Forrest, Bokeh's chief investment officer, said Urban Outfitters' strength as a fashion merchandiser has helped the company weather the inflationary environment, adding "people will sacrifice to look good."

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 47. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Wellington Market Brings An Elevated Food Hall To Toronto's The WellErin Nicole Davis is a born and raised Toronto writer with a passion for the city and its urban affairs and culture.
Källa: storeyspub - 🏆 16. / 74 Läs mer »