There’s a phrase usually not associated with Amazon (AMZN). While CEO, Chairman, and Founder Jeff Bezos was hob-nobbing with A-List celebrities last night at the company’s post-Prime Day concert, Amazon’s stock has been more of an ‘average Joe’ this year. With a YTD total return of 21.6%, AMZN is still modestly outperforming the S&P 500, but relative to other companies in the S&P 500 Retailing industry, its performance has been pretty much right in the middle of the pack. What’s even more surprising about performance among stocks in the S&P 500 Retailing industry is how many traditional brick and mortar retailers are outperforming AMZN this year. Target (TGT) — buoyed by strong earnings this morning — is at the top of the list and up more than double than AMZN on a year-to-date basis.
AMZN may be trailing some traditional retailers so far this year, but there have still been plenty of losers in the group. Both Macy’s (M) and Nordstrom (JWN) are down over 40%. The fact that more than 100 percentage points separate the biggest winner and loser in terms of performance this year shows just how bifurcated the sector has become. And this doesn’t even cover the horrific performance of mall REITs that provide space for brick and mortar retail. Start a two-week free trial to one of Bespoke’s premium equity market research services.