Why Nordstrom, Ralph Lauren, and Urban Outfitters Stocks Are Lower Today
Shares of several upscale apparel-focused retailers were trading lower on Thursday afternoon, amid a broad-based market decline after new job-loss and consumer-spending figures were released.
Here's how these three companies' stocks were faring as of 2:15 p.m. EDT on Thursday, relative to their closing prices on Wednesday.
Apparel retailers (a category that includes most department-store chains nowadays) have been clobbered since the outbreak of the COVID-19 virus in North America. And for good reason: U.S. Census Bureau data showed that sales of apparel fell by over 50% in March.
Source Fool.com
