This morning, the leading retail stocks are showing early strength. The popular Market Vectors Retail ETF (NYSEARCA:RTH) is trading higher by 0.11 cents to $41.23 a share. This leading ETF has been under selling pressure since May 1, 2012 when it traded as high as $42.69 a share. Short term traders should watch for intra-day resistance around the $41.50, and $41.80 levels.
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Thursday morning saw Gap (NYSE: GPS) and Target (NYSE: TGT) post February same-store sales that topped the analyst's estimates. This is partly down to the fact that a winter that did not get anything like as cold as one would normally expect resulted in a boost in the purchases of spring clothing.
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Dover Corp. (NYSE:DOV) announced that it has completed the sale of Heil Trailer International, a leading manufacturer of specialty transportation trailers and equipment based in Cleveland, Tennessee , to American Industrial Partners of New York , New York. Subject to normal post-closing adjustments, proceeds from the sale are $220 million.
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Nordstrom Inc (NYSE:JWN) reported a 10.7 percent increase in same-store sales for the five-week period ended October 1, 2011 compared with the five-week period ended October 2, 2010. Preliminary total retail sales of $943 million for September 2011 increased 16.3 percent compared with total retail sales of $810 million for the same period in fiscal 2010.