The retail sector was in the news on Thursday after most of the companies in the space released their same-store sales numbers. Wal-Mart (WMT) reported that its same-stores sales came in up only 1.4%, Costco Wholesale's (COST) were down 5%, Target's (TGT) dropped 6.3%, and BJ's Wholesale's (BJ) were off by 0.1%. The only name among the group that was trading to the upside in midday action was Target.
On a brighter note, a few retail firms reported positive same-store sales numbers.
same-store sales were up 3%,
saw a 14.7% rise, and
( HOTT) said sales dropped 7.1%. Out of this group, the only stock that was trading lower off the positive results was Hot Topic.
Since most of the same-store sales numbers have now been released, investors who play this group now have a better idea of what the future could hold for consumer spending. Considering that consumer spending makes up such a large percentage of the American economy, investors can also extrapolate a great deal of information about the future of the U.S. economy off of same-store sales figures.
With this in mind, let's take a look at the technical picture of some stocks in the group to see which names are setting up to make a significant move.
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