Retail Stocks Rally As Tariffs Are Delayed
by MR Magazine Staff
Aug 13, 2019
Christmas came early for retailers. Shares of department stores, discount chains and even toy makers rallied Tuesday after the U.S. said it would delay some tariffs against China until Dec. 15 on items including toys, cellphones, laptop computers and other items that had been set to take effect Sept. 1. Following the announcement, electronics seller Best Buy Co. , department store Kohl’s Corp. and discount chain Dollar Tree Inc. each rallied at least 5.1% apiece. The news of the tariff delay also spread to other retail stocks, with shares of two of the world’s biggest toy makers by sales, Mattel Inc. and Hasbro Inc., jumping 3.3% and 3.4%, respectively. Read more at The Wall Street Journal.
