Traders Eye XRT ETF as April Sales Results Raise Questions
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The SPDR S&P Retail ETF (NYSE: XRT), a fund which tracks the retail sub-industry portion of the S&P TMI, is up close to 19 percent year to date, outperforming the overall S&P 500 by 9 percent. But the rally might come to end soon if retailers can’t get their same-store sales numbers in line.
According to Thomson Reuters' data, 52.9 percent of retailers missed monthly same-store sales expectations for April.
Analysts don’t think the trend represents real weakening in the sector, attributing the missed same-store sales figures to a number of innocuous factors, including an early Easter.
The XRT ETF is currently down nearly 1.7 percent. The fund last traded at $61.38.
According to Thomson Reuters' data, 52.9 percent of retailers missed monthly same-store sales expectations for April.
Analysts don’t think the trend represents real weakening in the sector, attributing the missed same-store sales figures to a number of innocuous factors, including an early Easter.
The XRT ETF is currently down nearly 1.7 percent. The fund last traded at $61.38.
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