Abercrombie & Fitch and Macy's attract more than crowds as investors lock in Black Friday bargains
Published: 17:04 23 Nov 2023 GMT
Black Friday is a big day for retailers and consumers hoping for a once-a-year bargain in the biggest shopping event of the year as the festive season approaches.
Investors are joining in on the action, with retail stocks typically bouncing in the weeks approaching the holiday.
According to trading platform XTB, research shows that brands such as Abercrombie & Fitch (NYSE:ANF), Macy's, Inc. (NYSE:M) and Nordstrom, Inc. (NYSE:JWN) vastly outperform the stock market in both the run-up to and the period after the Black Friday sales.
Data compiled over the last 20 years reveals Abercrombie & Fitch (NYSE:ANF) as one of the top-performing retail stocks with a return of 7.66%, closely followed by Macys with a return of 4.99%, and Nordstrom at 4.37%, with all three retail stocks vastly outperforming the S&P 500 over the same period which rose on average just 0.7%.
“Interestingly when comparing the performance of the same retail stocks over both the 16 days prior to Black Friday and the 15 days after the famous sales day combined, the aforementioned gains noted above were retained,” XTB commented.
This year, this picture is a little different.
Macy's leads the race with a gain of 22% since November 1, with Abercrombie & Fitch (NYSE:ANF) up 18% and Nordstrom lagging with a 1% gain.
Over the same period, the S&P 500 has risen 8.7%.
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