Shares of retailers traded broadly lower early Friday, to underperform the broader stock market, after economic data showing that December retail sales fell for a third-straight month (Amplify Online Retail ETF (IBUY) shed 1.4%, while the S&P 500 eased 0.3%. Among the sector's more-active components, shares Walmart Inc. (WMT) dropped 1.9%, GameStop Corp. (GME) fell 3.3% and Macy's Inc. (M) lost 1.5%. Elsewhere, Amazon.com Inc.'s stock (AMZN) inched up less than 0.1% while Best Buy Co. Inc. shares (BBY) declined 0.4%.), and by much more than expected. The data indicated that sales at even internet retailers and electronic stores, which had been standout performers during the COVID-19 pandemic, dropped last month. The SPDR S&P Retail ETF (XRT) slid 1.2% in morning trading and the
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 15, 2021 09:47 ET (14:47 GMT)
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