January’s weather brought shoppers out and February’s kept shoppers indoors. Same-store sales for the retail industry are seen slowing to 2.9% growth in February, down from 5.1% in January. While February is not an important month for retail, it does set the mood for the spring.
The exchange-traded fund Retail HOLDRS (RTH) was down slightly this morning on the news, but volume remained. Wal-Mart was one of the few retailers to report solid sales gains and happens to be one of the largest holdings in the ETF.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.