Traditional retailers have outperformed Amazon so far this month

Shares of Macy’s, Nordstrom turn around after poor start to the year

New York /
Sep.September 14, 2017 09:45 AM

Traditional retailers are on track to see their best month in more than a year, even as shares of e-commerce giant Amazon lag.

The S&P 500’s retail sector climbed 4 percent since the beginning of September, its best month since July 2016, the Financial Times reported.

Shares of Macy’s climbed 9.1 percent after dropping 42 percent from the beginning of the year through the end of August. And Nordstrom, which saw shares drop 7 percent so far this year, rallied 6 percent at the end of the day on the news that private equity firm Leonard Green was going to take the company private.

Amazon, which is also part of the index, saw its shares fall 1.9 percent this month after climbing by a third during the first eight months of the year.

Several “left-for-dead retail stocks” saw the best upward revisions and beat their earnings projections, analysts at Nomura Instinet wrote in a report this month.

Traditional retailers have been thinking of ways to remake their real estate amid falling revenues. The most active on that front in New York have been Hudson’s Bay Companies and Macy’s[FT]Rich Bockmann


Related Articles

arrow_forward_ios
Pandemic could cut assessed property values by 10%
Pandemic could cut assessed property values by 10%
Pandemic could cut assessed property values by 10%
Lexington Hotel at 511 Lexington Avenue (Google Maps)
NYC hotels getting busier, but still struggling
NYC hotels getting busier, but still struggling
Illustration of Sam Zell of Equity Commonwealth (right) and Barry Sternlicht of Starwood (Illustration by Kevin Rebong for The Real Deal)
Monmouth Real Estate: We’ll sell to Zell, not Sternlicht
Monmouth Real Estate: We’ll sell to Zell, not Sternlicht
Instacart CEO Apoorva Mehta (Getty)
Instacart to build fulfillment centers near supermarkets
Instacart to build fulfillment centers near supermarkets
Blackstone eyes return to hotel business as real estate fuels strong Q2
Blackstone eyes return to hotel business as real estate fuels strong Q2
Blackstone eyes return to hotel business as real estate fuels strong Q2
A rendering of 19 Hausman Street (M Development)
Nightmare darkens for largest Brooklyn condo project of 2019
Nightmare darkens for largest Brooklyn condo project of 2019
Andrew Farkas of Island Capital and 511 Lexington Avenue (Island Capital, Google Maps)
Farkas buys Lexington Ave hotel for $185M
Farkas buys Lexington Ave hotel for $185M
M&T Bank reports late-stage delinquent loans more than doubled in past year
M&T Bank reports late-stage delinquent loans more than doubled in past year
M&T Bank reports late-stage delinquent loans more than doubled in past year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...