Macy’s and 2 Retail Stocks in High Demand as Markets Fall
Winners and losers in the retailer (NYSEARCA:XRT) sector are starting to emerge as Santa makes his way back to the North Pole. Here are three stocks with particularly positive news in today’s trading session:
Sears Holdings (NASDAQ:SHLD) pain has been Macy’s (NYSE:M) gain, according to ISI analyst, Gregory Melich, who applauds Macy’s for snapping up former Sears customers. “A lot of traditional department stores have reinvigorated themselves through merchandising, through changing their locations; you think of Macy’s.”
Kohl’s (NYSE:KSS), a large marketer of gift cards, is up on news gift-card spending rose to nearly 18% of total holiday spending this year. According to a consumer-tracking survey by the International Council of Shopping Centers and Goldman Sachs, the highest percentage since 2006 and up from 14.6% last year and 13.1% in 2009.
Bed Bath & Beyond (NASDAQ:BBBY) shares are up on news from the National Retail Federation the company is the 39th largest retailer in the US — good news for shareholders as the company moved up from last year.
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