|Bid||37.74 x 1100|
|Ask||39.60 x 1100|
|Day's Range||37.91 - 37.91|
|52 Week Range||29.57 - 40.43|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||0.65%|
Concerns about the wholesale channel sparked downgrades of Levi Strauss & Co. , Ralph Lauren Corp , and Calvin Klein parent PVH Corp. at Goldman Sachs. The downgrades sent each of the apparel stocks down, with Levi Strauss tumbling 4%, Ralph Lauren falling 3.7% and PVH down 3.4% in Wednesday trading. Goldman expects headwinds for the wholesale channel to ramp up in the second half of the year. "The combination of persistently tough first-half retail trends and an optimistic spring ordering season has driven inventory overhangs at several multibrand retailers," the Goldman note said. "These retailers are thus tightening up ordering as we head into the critical back-to-school and holiday season. We thus see incremental sell-in risk for apparel brands, particularly those with high exposure to department stores." Goldman expects growth at PVH's Tommy Hilfiger brand to "fade," thinks Ralph Lauren's wholesale troubles will be amplified by brand challenges at Polo and Lauren, and is worried that growth in Levi's tops business will decline. Levi stock is down 19% over the last three months, Ralph Lauren is down nearly 16%, and PVH is down 32.2%. The ProShares Decline of the Retail Store ETF has climbed nearly 11% over the last three months and the S&P 500 index has gained 3.5% for the period.
Online shopping is now the second-biggest component of the U.S. retail market after overtaking grocery stores and restaurants. According to the Commerce Department, consumer spending at non-store retailers, which includes online vendors like Amazon.com, increased by 1.7% in June and added to the overall increase in sales, Bloomberg reports. Overall, retail sales increased 0.4% last month as households ramped up purchases of motor vehicles and a variety of other goods.
Commercial real estate provider Holliday Fenoglio Fowler, L.P. (HFF) said Friday that it has arranged $550 million in financing to expand luxury retail destination Bal Harbour Shops and bring Barneys New York to Miami. The loan proceeds will be used to retire an existing loan and build out an additional 300,000 square feet at Bal Harbour Shops. Barneys will occupy 57,414 square feet of that space. It will be the only Barneys flagship in the southeastern U.S. The expansion will also include an additional 20,000 square feet for the existing Neiman Marcus. Bal Harbour Shops has operated at 100% occupancy for decades with a waiting list, according to the announcement. HFF also says the loan is one of the largest construction loans ever for the city. The ProShares Decline of the Retail Store ETF is up nearly 2% for the year to date, the Amplify Online Retail ETF has gained 26.1%, and the S&P 500 index is up nearly 20% for the period.
“Online sales still only make up about 12% of total global retail sales,” ProShares’ Global Investment Strategist Simeon Hyman said in a note. Looking ahead, by 2020, online sales are projected to surpass $4 trillion, with the biggest players in the field largely expected to capture a major share of the growing pie. For example, Amazon is estimated to account for half of all online sales by 2023.
Retailers are expected to shutter more brick-and-mortar locations this year, extending a theme that has been prevalent over the last several years and one that could benefit exchange traded funds such as the ProShares Decline of the Retail Store ETF (EMTY) and ProShares Long Online/Short Stores ETF (NYSE Arca: CLIX) . The Decline of the Retail Store ETF provides daily short exposure or -1x to the new Solactive-ProShares Bricks and Mortar Retail Store Index, which is comprised of traditional retailers and equally weights components. The fund holds companies that include department stores, supermarkets and sellers of apparel, consumer electronics and home improvement items, such as retailers like Barnes & Noble, The Gap, Macy’s, Kroger and Best Buy, among others.
The retail sector has been falling behind in the S&P 500 for the first half of the year and the trend doesn't seem to be shifting anytime soon. Dragging on the retail segment, many consumers have been shunning more traditional brick-and-mortar retailers in favor of businesses that have more quickly adapted to e-commerce or online retail businesses. For example, the ProShares Decline of the Retail Store ETF (EMTY) and ProShares Long Online/Short Stores ETF (CLIX) both take a short position in brick-and-mortar retail stores to capitalize on weakness in traditional stores.
"Thematic or trend investing, as some people are terming it, is really a fascinating area in the ETF world for new product development," Kieran Kirwan, Director, Investment Strategy Proshares, said at the Morningstar Investment Conference.
Consumer confidence, a primary indicator of U.S. economic health and one widely watched by equity market participants, remains healthy. While consumer confidence looks sturdy, some market observers remain concerned the health of the U.S. consumer could surprise to the downside, putting some brick-and-mortar retailers at risk. The ProShares Decline of the Retail Store ETF (NYSE: EMTY) is an exchange traded fund to consider should consumer confidence become shaken.
ProShares, a premier provider of ETFs, today announced the inclusion of nine more of its ETFs to the TD Ameritrade ETF Market Center’s menu of commission-free funds.
Abercrombie & Fitch shares plummeted after fiscal first-quarter earnings, but analysts think the current decline is a precursor to a successful business transformation.
For example, ETF investors can look to targeted ETF strategies such as the ProShares Pet Care ETF (PAWZ) to capture the growth in the pet care industry. PAWZ is the first ETF of its kind to cater to the pet care industry. The ETF idea tries to capitalize on the pet care industry that is poised for even further growth as data collated from Grand View Research and other pet industry trends show that sales could reach upwards of $203 billion by the year 2025–a growth of 54% in less than 10 years.
On the upcoming webcast, Pet Care, Infrastructure & Online Retail—Investing in Today's Global Trends, Simeon Hyman, Global Investment Strategist at ProShares, and Kieran Kirwan, Director of Investment Strategy at ProShares, will discuss how you can put them to work in your portfolio. Specifically, ETF investors can look to targeted ETF strategies such as the ProShares Pet Care ETF (PAWZ).
Travel startup Away, known most for its suitcases, announced that a $100 million round of investment has closed, with funding led by Wellington Management Company LLP. The company's plans for the new funding includes expanding its line of merchandise into clothing, wellness and lifestyle accessories, 50 new stores over the next three years, and international expansion. Away currently has stores in major cities including New York, San Francisco, Chicago and London. Products are available in 39 countries with the goal of growing abroad by 10 times in the next three years. Away launched in February 2016 and reached $150 million in sales in 2018. The company says sales are expected to double in 2019. The SPDR S&P Retail ETF has gained 4.7% for 2019 so far. The ProShares Decline of the Retail Store ETF has slipped 2.3%. And the S&P 500 index has rallied 14% for the period.
Macy's Inc. shares jumped 6.6% in Wednesday premarket trading after the department store retailer reported first-quarter profit that blew past estimates. Net income totaled $136 million, or 44 cents per share, down from $139 million, or 45 cents per share last year. The FactSet consensus was for 33 cents. Sales totaled $5.50 billion, down slightly from $5.54 billion last year and just below the $5.53 billion FactSet guidance. Same-store sales on an owned basis rose 0.6%, and on an owned-plus-licensed basis, they were up 0.7%. FactSet guidance was for a 0.6% same-store sales decline. For 2019, Macy's expects adjusted EPS of $3.05 to $3.25, sales to be approximately flat, and same-store sales on both an owned and owned-plus-licensed basis to be flat to up 1%. FactSet is guiding for EPS of $3.10, sales of $25.09 billion, compared with $24.97 billion last year, and same-store sales growth of 0.4%. Macy's stock has fallen nearly 27% for the year to date while the ProShares Decline of the Retail Store ETF [S: emty] is down 3% and the S&P 500 index has gained 13.1%.
Retail stocks and exchange traded funds (ETFs) are rallying this year, including some brick-and-mortar names. For now, the ProShares Decline of the Retail Store ETF (NYSEArca: EMTY) is being pinched by ...
More and more, investors are hearing about the rise of e-commerce and online retail sales. Related to that theme, investors are hearing more about the demise of brick-and-mortar retail stores. Issuers of exchange traded funds are hip to the shift of retail sales from stores to computers, smartphones and tablets.
Retail stocks and the related exchange traded funds are off to impressive starts in 2019. The SPDR S&P Retail ETF (NYSE: XRT), one of the most widely followed retail ETFs, is higher by 9.51 percent. EMTY, which debuted in November 2017, “seeks capital appreciation from the decline of bricks-and-mortar retailers through short exposure (-1x) to the Solactive-ProShares Bricks and Mortar Retail Store Index,” according to ProShares.
A slew of data points confirm that many shoppers are using online venues for holiday purchases, a theme that could potentially benefit some exchange traded funds. Shopping and consumer trends are changing as more buyers rely on the convenience of online retailers to quickly and easily meet their discretionary needs. As the retail landscape changes, investors can also capitalize on the trend through exchange traded funds that target the e-commerce segment.
Shopping and consumer trends are changing as more buyers rely on the convenience of online retailers to quickly and easily meet their discretionary needs. As the retail landscape changes, investors can also capitalize on the trend through exchange traded funds that target the e-commerce segment. About 51% of Americans prefer to do their shopping online, with Millennials and Gen Xers spending an average of 50% more time than Baby Boomers, reports Lauren Fam for G2Crowd.
As consumer spending habits change, ETF investors could focus on the online retail space for a potentially greater growth opportunity. "We're looking at the retail space and this is about as good as it's going to get from a macro perspective - low unemployment, the tax cuts, consumer confidence sky-high, and the numbers are okay but they're not exactly the same when you split it between the online retail world and the brick-and-mortar world," Simeon Hyman, Global Investment Strategist and Head of Investment Strategy Group for ProShares, said at the Charles Schwab IMPACT 2018 conference. While some legacy retailers have adapted to the changing times, traditional retailers have seen margins decline and have only barely held on.