“Retailers Are Running Out Of Time”: Channel Checks Show 13% Collapse In Traffic
by Tyler Durden
ZeroHedge.com
Mar 20, 2017
While the market is treading water, with the S&P modestly in the red, offset by some strength in the DJIA, retail stocks are broadly lower, with 83 of 91 components of the S&P 1500 Retail Index trading in the red, led by Tuesday Morning, Caleres, Express, Shoe Carnival, Francescas as BBG notes.
Some observations: according to Wells Fargo’s Ike Boruchow, it’s “increasingly clear that retail is under significant pressure” adding that store traffic remains weak (likely to get softer this week due to Easter shift), while markdown rates are not only elevated on an annual basis, but also getting sequentially worse. He concludes that “retailers are running out of time” to reach elevated Q1 numbers as consumption is failing to rebound.
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