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January Retail Sales Dragged Down by Auto Sales

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  • Description

    FBN’s Nicole Petallides on January’s retail sales and the outlook for retail stocks.

  • Duration 1:25
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Wall Street hitting a wall -- -- weak retail sales.

-- that'll leave these on the floor the exchange against weaker than expected was the -- right.

That's the way to say Neil because what we did see was we did see growth in retail sales it was decent but it did not meet the expectations of the economist -- -- That it would be higher than what we saw -- one of the reasons was because auto sales those weren't.

A sharp disappointment so let's start off with some of the retailers we did see some strength in general merchandise department stores sporting goods restaurants.

That's what did well.

What was very weekend and came to surprises many on Wall Street was that auto sales disappointed.

January over December you see here General Motors managed to squeeze out a gain up about one quarter.

Of 1% but that the big picture is that auto sales were sharply lower and really took everybody by surprise.

This is two distinct winners that are worth noting on Wall Street today.

Michael course everybody knows them from leather handbags and and leather goods that they make apparel and -- that came out with -- Michael of course you met -- great numbers.

Best -- -- more than 20% gain there.

For Michael -- passing day in its highest levels that we've seen from started trading late last year and apple.

Once again allowing Wall Street's trading at 511 in the after hours but once again -- an all time high.

For good old apple now they have and I have this forgy coming out so they don't -- -- -- That's a little retail sales ago on -- guest on the gulf thank you.

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