This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sector Snap: Retail Shares Rise After Sales Report

NEW YORK (AP) ¿ Shares of retailers rose on Friday, after the Commerce Department reported an unexpectedly encouraging November sales report.

The Commerce Department reported U.S. retail sales, excluding autos, rose 1.2 percent, triple the expected gain.

The report relieved investors worried about a rebound in consumer spending as unemployment remains high.

The Dow Jones U.S. retail index rose nearly 3 percent. The general market rose as well, up more than 60 points in afternoon trading.

Still, analysts remained cautious about the long-term retail sales figures.

"Consumer confidence is still down, and there's still great concern over people's jobs," said David Bassuk, a managing director in the retail practice at AlixPartners. The November report is "not going to change consumer purchasing behavior overnight with that news."

Macy's Inc. was one of the biggest gainers. Shares rose $1.05, or 6.6 percent, to $17.08 during afternoon trading. The stock has traded between $6.27 and $20.84 over the past year.

Saks Inc. shares rose 28 cents, or 4.6 percent, to $6.31. The stock has traded between $1.50 to $7.45 over the past year.

Shares rose across the retail sector.

Shares of Genesco Inc., which operates Journeys and Underground Station stores, rose 95 cents, or 4 percent, to $24.57. The stock has traded between $11.31 and $29.69 over the past 52 weeks.

Shares of off-price retailer Tuesday Morning Corp. rose 21 cents, or 8.4 percent, to $2.70. The stock has traded between 51 cents and $5.48 over the past year.

Shares of Charming Shoppes Inc., which operates Lane Bryant and Fashion Bug, rose 52 cents, or 10.1 percent, to $5.66. The stock has traded between 45 cents and $5.84 over the past year.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SKS $0.00 0.00%
CHRS $28.41 0.00%
GCO $69.25 0.00%
M $63.65 0.00%
TUES $16.58 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs