Chain-Store Stock Carnage Continues (Despite Biggest Jump In Retail Sales Since 2016)

Jon Economy

Oh the irony – as bulls celebrate the best jump in retail sales since 2016, the scene for retailer stocks is an utter bloodbath…
Earlier today, US Retail Sales in July rebounded dramatically to a 0.6% MoM gain – the most since Dec 2016 – driven a surge in motor vehicles (record incentives) and department stores (more inventives?). Year-over-year saw upward revisions and a rebound to a 4.2% rise in July.
The last two month’s declines in Retail Sales have been revised away magically and we have now gone 5 months without a decline…

This post was published at Zero Hedge on Aug 15, 2017.