Market Overview

Retail Stocks Blast Off After Macy's And Kohl's Beat Earnings; All Eyes Now On Nordstrom

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Kohl's Corporation (NYSE: KSS) and Macy's Inc (NYSE: M) reported strong earnings and sales, sending both shares up over 12 percent as both companies defied Wall Street's low estimates. Following both Kohl's and Macy's successes, investors turned to other clothing retail peers, expecting a somewhat similar result.

Here are Macy's and Kohl's notable industry peers that have been moving today:

  • J C Penney Company Inc (NYSE: JCP) up 7.87 percent
  • Nordstrom, Inc. (NYSE: JWN) up 6.78 percent
  • Sears Corp. (NYSE: SHLD) up 1.78 percent
  • Gap Inc (NYSE: GPS) up 3.83 percent
  • Dillard's (NYSE: DDS) up 5.37 percent
  • TJX Companies (NYSE: TJX) up 0.67 percent
  • Stein Mart (NASDAQ: SMRT) up 4.74 percent
  • Target Corporation  (NYSE: TGT) up 1.19 percent

With Nordstrom's looming earnings report and stock up 6 percent, investors are most likely going to be more sensitive to signs of weakness, especially in Q2 same-store sales, and EPS. Nordstrom plans to release its Q2 earnings report after Thursday's close.

Investors cheered Kohl's and Macy's EPS and same-store sales beat, but didn't pay as much attention to both companies' mixed guidance. Kohl's lowered its FY16 EPS forecasts while Macy's announced it would shut down 100 stores across the country and shares still jumped over 10 percent on the day.

Stay updated with further analysis of Nordstrom's earnings with Benzinga as its reported after the market close.

 

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