Macy’s, Nordstrom, Kohl’s shares are up after announced retail numbers in July

Department store vendors received a boost on Friday when the latest government data showed a 1.2% increase in U.S. retail sales. Nordstrom Inc. JWN,
+ 3.04%
shares up 5.8%; Kohl’s Corp. KSS,
+ 3.19%
stock was up 6.6%; and Macy’s Inc. M,
+ 4.80%
shares jumped 9.3% on the news. Experts say retailers are at great risk during the coronavirus pandemic, as mandatory lockdowns and fear for consumers keep shoppers away from shopping malls and stores. Department stores were under pressure even for COVID-19 due to weakening traffic in the mall and the shift to online shopping. Going forward, GlobalData Retail says clothing will continue to feel the pinch as shoppers, who spend more time at home, focus their dollars on categories such as consumer electronics and shopping. Neil Saunders, managing director at GlobalData, notes a 19.6% decline in July at apparel stores. Macy’s stock has been down 55.7% for the year to date. Nordstrom stock is down 57%. And Kohl’s shares have seen a decline of 52.7%. The ProShares decline of the retail store ETF EMTY,
-0.98%
is down 14.8% so far in 2020, while the S&P 500 index SPX,
+ 0.05%
is up 4.5% for the period.