On Wednesday, the Commerce Department reported retail sales, excluding automobiles, gasoline and building materials, rose 0.5 percent in October. Economists had expected core sales to rise by 0.3 percent, according to data collected from Reuters. "It reinforces the current narrative of sustained growth momentum in the recovery going into the last quarter of the year, even at a time when the economy was contending with the headwinds created by the government shutdown," said Millan Mulraine, senior economist at TD Securities in New York. The larger than expected gain comes as a welcome sign to retailers as they head into the crucial holiday season. Here is how some retailers reacted Wednesday:
American Eagle Outfitters (NYSE: AEO) shares traded in the range of $15.91 to $16.18 Wednesday before settling to close at $16.00, an increase of 0.63 percent. The stock appears to be facing some resistance at the $16.28 and $16.64 levels with some support at $15.47. Shares of American Eagle Outfitters have gained approximately 15.0 percent in 2013.
More information on American Eagle Outfitters and access to the free equity report can be found at:
www.WallStreetFundamentals.com//AEO
The Gap Inc. (NYSE: GPS) shares traded in the range of $41.22 to $41.91 Wednesday before settling to close at $41.24, a decrease of 1.15 percent. The stock appears to be facing some resistance at the $41.47 and $42.34 levels with some support at $40.26. Shares of The Gap have gained approximately 32.0 percent in 2013.
More information on The Gap and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GPS
The TJX Companies, Inc. (NYSE: TJX) shares traded in the range of $63.01 to $63.64 Wednesday before settling to close at $63.27, an increase of 0.24 percent. The stock appears to be facing some resistance at $64.40 with some support at the $62.68 and $53.97 levels. Shares of The TJX Companies have gained approximately 12.0 percent in 2013.
More information on The TJX Companies and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TJX
Urban Outfitters, Inc. (NASDAQ: URBN) shares traded in the range of $38.87 to $39.554 Wednesday before settling to close at $39.02, a decrease of 0.74 percent. The stock appears to be facing some resistance at the $39.64 and $41.38 levels with some support at $38.81.
More information on Urban Outfitters and access to the free equity report can be found at:
www.WallStreetFundamentals.com/URBN
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