Retail Sector Is On Fire Today
Shares of J C Penney Company Inc (NYSE: JCP) gained more than 5 percent Wednesday morning as the company's management spoke at the Piper Jaffray Consumer Conference.
Here are some of the biggest takeaways from the company's CEO Marvin Ellison's presentation.
Retail Sector On Fire
While shares of J.C. Penney held on to its gains by Wednesday afternoon, several of its department store and retailing peers were also trading higher.
Kohl's Corporation (NYSE: KSS)'s stock was higher by more than 3 percent and was boosted by a bullish report from analysts at Cleveland Research who said they were positive on the department store's sales trends.
Macy's, Inc. (NYSE: M) saw its stock gain more than 3 percent.
However, shares of Sears Holdings Corp (NASDAQ: SHLD) surged higher by more than 11 percent on no notable news or scheduled events.
$SHLD up 12% today, because...?
Something something efficient markets
— Jordan S. Terry (@The_Analyst) June 15, 2016
Other notable department store and retailers that saw their shares trade higher by more than 2 percent by Wednesday afternoon include Nordstrom, Inc. (NYSE: JWN), Bon-Ton Stores Inc (NASDAQ: BONT), Dillard's, Inc. (NYSE: DDS) and Gap Inc (NYSE: GPS), among others.
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