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Fly News Breaks for May 16, 2016
ROST, TJX
May 16, 2016 | 07:21 EDT
Bernstein believes that the combination of decelerating Q1 trends reported by department stores and accelerating overall April retail sales "could be positive news" for discount retailers. The firm notes that TJX (TJX) is slated to report its results tomorrow after the market closes, while Ross Stores (ROST) is slated to announce its earnings on Thursday after the market closes. Bernstein thinks that off-price retailers continue to gain market share. It keeps an Outperform rating on TJX and a Market Perform rating on Ross Stores.
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