Friday, April 28, 2017

The Core of the US Economy Not Growing #Retailers

News
Traditional retailers from Abercrombie & Fitch to Wet Seal are struggling and closing stores. Department store sales like Macy's, Nordstrom's, and Kohl's either disappointed or were bad. The retailing experts are oversupply, and increased competition from Amazon. It's likely that Amazon will control 20% of the entire apparel market by 2020. That's up from 7% today.

Increased competition from Amazon, however, is nothing new. The retail stock index that include powerful names such as Amazon, Netflix, and Wal Mart has been underpeforming the broader stock market since 2013. While is grabbing more of the retail pie, they're doing so at the expense of their competitors rather than a growing economy. Click Retail Stock Chart for further discussion.

Headline: Amazon revenue soars as cloud, retail businesses dominate

(Reuters) - Amazon.com Inc's (AMZN.O) retail and cloud-computing sales rose in the first quarter, inching above Wall Street's expectations and sending the company's shares to an all-time high in extended trading.

The world's largest online retailer said on Thursday net sales rose 23 percent to $35.7 billion, just beating analysts' average estimate of $35.3 billion, according to Thomson Reuters I/B/E/S.


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