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Retail Stocks Waver After Target Predicts Flat Comp Sales

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Retail stocks wavered as the market opened Tuesday after Target (NYSE: TGT) predicted flat second-quarter same-store sales growth.

Besides dropping more than four percent, Target was among the most actively traded issues in the pre-market, with more than 200,00 shares changing hands.

Year to date, the sector is down 4.7 percent as measured by the exchange-traded fund SPDR S&P Retail (NYSE: XRT), but many big names in the sector are down by double digits.

Macy's (NYSE: M) was down 1.01 percent for the day, while Bon-Ton Stores (NASDAQ: BONT) dropped 0.74 percent.

Wal-Mart Stores (NYSE: WMT) fell 0.61 percent and Costco (NASDAQ: COST) fell 0.22 percent.

Posted-In: News Guidance Movers

 

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