Restoration Hardware Soars: Retail Winners and Losers (Update 1)
This story has been updated with closing stock prices.
NEW YORK (TheStreet) - Retail stocks, for the most part, retreated Friday as consumer sentiment data declined.
Thomson Reuters and the University of Michigan preliminary index of consumer sentiment fell to 82.7 in June from 84.5 the prior month, which was the highest since July 2007, according to Bloomberg.
Retail stocks posted strong gains on Thursday after the Commerce Department released figures showing May retail sales were better-than-expected.
U.S. food and retail sales rose 0.6% in May from April to $421.1 billion, according to the latest Commerce Department figures ahead of Wall Street expectations of a 0.4% rise.
Excluding autos, retail sales rose 0.3% from April 2013, in line with estimates of 0.3% growth and 3.4% above last year.
Bucking the general malaise in the sector on Friday was Restoration Hardware
Shares surged 16.1% to $68.47 after the home-furnishing company hiked its current quarter outlook and reported first-quarter earnings that beat expectations by 2 cents at 6 cents a share. Revenue also topped estimates as same-store sales soared by 41% in the first quarter. The company also announced RH Kitchen and Tableware, which will cater towards "kitchen furniture, appliances, lighting, cookware, tools and food," the company said in a press release.
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Bed, Bath and Beyond
Shares of Best Buy
Best Buy said Thursday it will create Windows stores within 600 of the company's stores, about 100 of those in Canada, in a partnership with Microsoft.
Teen retailer Zumiez
-- Written by Laurie Kulikowski in New York.
To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.
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