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Even with the early sales figures, costs, including investing in digital, and comparable results are still hurting retail stocks. Heading into the weekend, retailer shares were hit hard, with Target shares down 16.6% for the week, Kohl’s Corp. KSS, +3.45% stock down 12.8%, off-price retailer TJX Cos. TJX, +0.39% tumbling 12.6% for the period, and Costco Wholesale Corp. COST, -0.59% down 4.3%.
Gap Inc.’s (No. 20) online reserve system has been disabled or limited today in some locations, likely due to the higher store traffic, making it harder to keep track of accurate inventory levels. On normal business days, consumers shopping online can find an item in their preferred size and see if it is available in a store near them to reserve and pick up.