J.C. Penney Company, Inc. (JCP) Struggles, But Apparel Outperforms The Retail Index

The S&P Retailing Index fell 3.5% in April, compared to a 6.0% increase for the S&P 500 (INDEXSP:.INX), but the downward trend covers up some good news for the rest of the year. Discount stores in particular have benefited from better consumer confidence, and e-commerce is proving to be accretive for at least some retailers. J.C. Penney underperformed with other department stores The apparel companies covered by Nomura analyst Robert Drbul did better as a group than the S&P Retailing Index, losing 1.9% last month. The branded apparel sub-sector (including PVH Corp (NYSE:PVH), Hanesbrands Inc. (NYSE:HBI)) was the top performer, gaining…