Retail Might Return To December Lows Before Finding A Bottom

by MR Magazine Staff

Retail is getting wrecked. The XRT retail ETF has tumbled more than 11% in May, its worst monthly loss of the year. The fund, which equal weights Amazon against smaller rivals including Gap, Macy’s and Target, has also underperformed the broader market, which is down 5.5% in May. The average retail stock is down 13% this month. JC O’Hara, chief market technician at MKM Partners, says it could get worse before it gets better. Read more at CNBC.