March Madness is good for retail stocks

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The 2019 NCAA men’s basketball tournament kicked off last week.

While all sorts of studies find March Madness costs the economy billions of dollars in lost productivity, it seems people still find time to shop.

Over the past decade, the U.S. retail industry group has outperformed the Consumer Discretionary sector after March Madness.

This holds up to a month after the start of the tournament.

The group has traded higher 90% of time with an average return of more than 3% according to a CNBC analysis of Kensho.

That also beats the broader S&P 500 handily.

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