Department Stores’ Post-Election Rally Is Over

Department store stocks jumped after U.S. election results came in on Nov. 8. Shares of companies like Macy’s saw advances of 20% or more in the weeks following President-elect Donald Trump’s victory, but prices have been pulling back once again in the last couple of weeks. The woes for the retail juggernauts of yesteryear continue, so the negative retracement isn’t a surprise.