Department Stores
Examining The “Reopening Economy” Theme At The Group Level
We examine a variety of industry groups with noteworthy relative price action on both “reopening” and “closed economy” days. Our objective is to shed more light on the industry groups that are consistently moving together on these days.
Retail’s Winners And Losers Of The Pandemic
Following the market bottom, the rebound across retail industries has been robust, but a divide has emerged. Consumers’ needs and behaviors have dramatically shifted as former lifestyles were uprooted. This swift change in economics has resulted in clearly-defined sets of winners and losers among retail industries.
Brick & Mortar Retail Evades October Sell-Off
Although Discretionary stocks broadly underperformed during October’s market decline, prominent amongst the very top industry group performers was a rather unexpected genre of industries—brick & mortar retail. Not only did this cohort hold up during October’s tumult, but many of the underlying stocks have been posting strong returns all year.
Discretionary Defies Gravity; Dept. Stores Purchased
Brick-and-mortar retail, not to mention antiquated Department Stores, have pretty much been declared dead in the age of Amazon. Often, this is when our GS Scores shine brightest... by picking industries that, at the time, are not intuitive and hard to stomach.
Highted Attractive Groups
Department Stores have rallied the last four months; Health Care Distributors is one of the cheapest groups we track; Paper & Forest Products is the only Materials group in the Attractive range of the GS Scores.
Department Stores Get The Christmas Spirit
Managed Health Care and Department Stores were this week's best groups. Internet Software & Services and Semiconductor Equipment were this week's worst groups.
Department Stores In The Bargain Basement
Oil & Gas Exploration & Production and Oil & Gas Equipment & Services were this week's best groups. Homefurnishing Retail and Department Stores were this week's worst groups.
Department Stores Bounce This Week
Department Stores and Integrated Telecommunication Services were this week's best groups. Tech Hw Stor & Periph and Health Care Facilities were this week's worst groups.
Department Stores Get Marked Up This Week
Regional Banks and Department Stores were this week's best groups. Semiconductors and Semiconductor Equipment were this week's worst groups.
Department Stores Lead This Week
Oil & Gas Exploration & Production and Department Stores are this week's best groups. Multi-Utilities and Precious Metals were this week's worst groups.
Department Stores Hit The Bargain Basement
Department Stores and Investment Banking & Brokerage were this week's worst groups. Multi-Utilities and Education Services were this week's best groups.
Department Stores Lead This Week
Homefurnishing Retail and Department Stores are this week's best groups. Pharmaceuticals and Biotech...Small/Micro are this week's worst groups.
Can Consumer Discretionary Relative Strength Continue?
Despite this sector’s extended outperformance, we think this trend may persist in the near term as Discretionary industry groups look increasingly attractive within our group work. Keeping an eye on the Fed Funds rate is key, however.
Our Most Contrarian Group Ideas
Using “Analyst Score” to measure sentiment and our Group Selection (GS) Scores, we present what appear to be the most quantitatively Attractive, yet disliked equity groups.
Retail Groups Rise In The Ranks
A new theme emerging within our GS Scores—Retail related industry groups are flocking to the upper rankings of the scores.
Current Attractive & Unattractive Groups and Highlights
Beverages, Tobacco, Department Stores, and Diversified Banks.
Adding Department Stores: Exploiting The Wealth Effect
Select Industries portfolio has added new equity group holdings in Department Stores, boosting sector exposure in Consumer Discretionary.
Unattractive Groups Based On Group Insider Scores
In prior issues, we have presented those equity groups that had been displaying the best readings in terms of insider selling/buying. Several clients have expressed an interest in seeing those groups with the most significant levels of insider selling. The following table presents the ten groups with the most pervasive insider selling.
New Select Industries Group Holding: Selling Drugs To Shop Department Stores
Upgrade to Attractive last month put Department Stores on our radar, and February’s move into the GS “top ten” confirms the quantitative strength of this group. Improving technicals, stronger than expected January sales and increasing probability of soft landing indicating a promising outlook for this group.
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