Apparel Retailers Get a Boost from News of an Effective Vaccine Candidate

By Sheridan Fifer

On Monday morning, apparel retailers Ross Stores, Macy's, The TJX Companies, and Kohl's saw their stocks surge between 16% and 33% on some hopeful vaccine news. Apparel has been particularly hard-hit by the pandemic, and clothing retailers are hoping that an effective vaccine will return foot traffic and sales to pre-pandemic levels. Pfizer announced that it has just such a vaccine candidate in the works, one that has proven more than 90% effective in preventing COVID-19 and has so far given rise to no serious safety issues. 

News that Pfizer has a promising and effective vaccine is hugely positive news for many beaten-down industries, especially brick-and-mortar retailers.

Read the full story at The Motley Fool.