Wedbush Notes Strength in Retailers with e-Commerce Presence, Maintains Outperform Ratings on PIR, BBBY, KIRK, BIG
Wedbush's Joan Storms is out with a research note highlighting better holiday performance among retailers with a solid presence in the e-commerce space compared to brick-and-mortar retailers. Storms specifically mentions Pier 1 (NYSE: PIR) and Bed Bath & Beyond (NASDAQ: BBBY) as two retailers with just such a presence.
The analyst noted an increasing level of shoppers may be beginning to view Pier 1 as a spot for gift giving.
Elsewhere in the sector, she also pointed at an impressive holiday assortment at Kirkland's (NASDAQ: KIRK). On the less optimistic side of things, Storms said the unrolling of a new merchandising initiative at Big Lots (NYSE: BIG) was not implemented in time to catch holiday dollars.
Storms maintains Outperform ratings on shares of Pier 1, Bed Bath & Beyond, Kirkland's and Big Lots.
The SPDR S&P Retail ETF (NYSE: XRT) is up about 4 percent since the low set at the beginning of November. The ETF, which some traders use as a broad metric on performance in the retail sector, is up more than 2 percent over the last six or seven trading sessions.
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