Retail Stocks Respond on Wall Street
New York City Markets surged on Monday, with the Dow closing up 11%; the S&P 500 up 11.5% and NASDAQ up 11.8%. Retail stocks rallied in kind.
Eight of the 10 largest retail companies showed impressive gains. Lowe’s Cos. rose 11.73%; Costco and Target Corp. both jumped more than 10%. The Home Depot was close behind with a 9.92% gain and Safeway showed an 8.27% increase. Kroger climbed 6.69%; Wal-Mart Stores was up 6.51%; and Walgreen Co. rose 5.9%. CVS/Caremark had a more modest 2.66% increase.
Among the 10 largest retail companies, only Sears Holdings fell short, dropping 4.3% during Monday trading.
On the NASDAQ list of stocks that advanced most, Rocky Mountain Chocolate Factory was the one retail company cited, closing at $8.05, a $2.40 increase and a 42.48% leap.
Among the most active retail companies listed by NASDAQ were eBay, up 8.25% on Monday, Starbucks, which rose 5.96%, and Staples, which closed 16.10% ahead.
New York & Company had one of the worst days, closing at $4.27, down $2.98—a 41.10% drop from its previous close.