Skip to content

Retail Stock Meltdown Shows Signs of Seeping Into Junk Bonds

  • Debt from Macy’s, Bath & Body, Neiman Marcus is slumping
  • Walmart, Target just saw massive stock routs after earnings
Video player cover image
Beyond the Bell 05/19/22

Retailers have gotten smacked in the US stock market this week amid worrisome earnings reports from Walmart Inc. and Target Corp. -- and the pain is spreading to the industry’s bonds.

Macy’s Inc.’s notes maturing in 2029 and 2030 hit record low prices below 87 cents on the dollar on Thursday, according to Trace. Bath & Body Works Inc.’s unsecured bonds dropped after the company cut its earnings outlook. Neiman Marcus, which traded at par as recently as May 4, saw its 2026 bonds slip below 95 cents.