Why Retail Stocks Popped Today
Retail stocks were up broadly today as department store chains and big-box stores continued to rally on bullish reports on the holiday weekend and key selling days like Black Friday and Cyber Monday.
Among the winners today were Nordstrom (NYSE: JWN), which was up 5.1%; Macy's (NYSE: M), which gained 5.5%; Kohl's (NYSE: KSS), up 3.5%; Sears Holdings (NASDAQ: SHLD), which rose 6%; and Target (NYSE: TGT), which was up 5.5%.
The stocks started surging yesterday afternoon, building on upbeat reports as Macy's has looked particularly strong, with its shares up 14% in the last week.
Source: Fool.com
