Amazon stock was lower on Prime Day and some of the retailers it has been crushing were moving higher Tuesday, but the longer-term trend shows its competitors hitting rock bottom.
Amazon's own stock was down about 0.7 percent Tuesday, as the company offered shoppers hundreds of deals on the shopping holiday it concocted to promote its Prime membership and other products. Prime membership provides shoppers with free shipping, Amazon TV programming and other services and deals.
But Amazon, trading 2.6 percent off its all-time high, has made lofty gains compared with its brick-and-mortar rivals. For the year so far, its stock is up 32 percent, while many store chains, such as Macy's and J.C. Penney, are down more than 40 percent.
Bespoke Investment Group created an index of the major retail names it thought would be most hurt by Amazon, called "Death by Amazon," and it was trading at a four-year low as of Monday. The index of 54 stocks is down more than 20 percent on an equal weighted basis this year. But in market cap, the group has lost $70 billion this year alone, while Amazon has gained $120 billion, according to Bespoke.
Some of the retailers in the index edged higher, including Macy's, which was offering free shipping to its customers Tuesday. Kohl's, Costco, TJX, Kroger and Target were also all slightly higher Tuesday. Rite-Aid and Walgreen Boots Alliance were lower.
Most of the stocks on the list are sharply lower for the year, with a few exceptions. HSN, which is in a merger with QVC, was up 14 percent year to date. Wal-Mart, which battled back against Amazon with its purchase of Jet.com, was up about 6 percent so far this year.
"I think [Wal-Mart] got a big bounce from that move. The Jet.com acquisition was taken as a sign the company was going to get serious about online. That was one of the reasons the stock rebounded," said Paul Hickey, co-founder of Bespoke. "It pulled in a little, and it hasn't regained its footing since the Whole Foods news was announced."
Amazon announced a merger last month with grocer Whole Foods Markets, rattling retail stocks, as well as some food companies. Some of those companies were selling off Tuesday, including Kellogg and General Mills.