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Trackinsight: U.S. Retail ETFs trend higher on September’s sales data

10/19/2021 | 10:15am EST

U.S. retail sales rose last month, suggesting resilient demand for merchandise despite global production hurdles and supply constraints.

U.S. retail sales rose last month, suggesting resilient demand for merchandise despite global production hurdles and supply constraints. Overall retail purchases increased 0.7% in September following an upwardly revised 0.9% gain in August, Commerce Department figures showed Friday. Excluding autos, sales advanced 0.8% in September.

In the Retail ETF space, SPDR S&P Retail ETF (XRTn), Amplify Online Retail ETF (IBUY) and VanEck Vectors Retail ETF (RTH) gained +1.92%, +1.11% and +0.98% respectively on Monday, boosted by the recent retail data and better-than-expected third quarter results from several majors constituents. XRT rose the highest among its peers due to Macy’s 17% surge, one of its main holdings.

Macy’s shares rose after Saks Fifth Avenue said they were planning to take their e-commerce unit public at a valuation of $6 billion. Investors are betting that Macy’s would speed up their own IPO of their e-commerce business to keep up with Saks, one of its closest competitors.

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ę www.trackinsight.com 2021
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