Why Designer Brands, Gap, and Other Retailers' Stocks Are Rising Today
Shares of several brick-and-mortar retail chains were moving up on Wednesday after the biggest U.S. mall operator confirmed that it will reopen malls and outlet centers in 10 states over the coming weekend.
Here's where things stood as of 2:00 p.m. EDT for these four companies' stocks, relative to their closing prices on Tuesday.
News that mall owner Simon Property Group (NYSE: SPG) will reopen 49 of its shopping centers between Friday and next Monday sparked a rally in retail-chain stocks on Tuesday. That rally appears to be continuing today, as a broad reopening of the U.S. economy next month now seems more likely.
Source Fool.com
