(Retail winners and winners losers article updated the Home Depot downgrade.)
NEW YORK (
) -- Retail stocks are rallying on positive
and Bank of Japan's move to cut its overnight call rate.
The positive economic news is sending the S&P Retail Index up 1.6% to 461.52, along with the broader market.
Retailers are set to report September same-store sales on Thursday, and expectations are a mixed bag.
Cramer: Wal-Mart Is a Buy
var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 626091486001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);
The International Council of Shopping Centers reported that weather dragged down sales at the end of the month, with sales declining 0.8% for the week ended Oct. 2.
The firm is forecasting total sales for the month will rise between 2.5% and 3%.
is up 3.6% to $34.29 after it reported a surprise
. Wall Street had forecast a decline of 1.1%.
( GYMB) is advancing following a report from the
New York Post
revealing the company hired
to facilitate a possible sale. The Post quoted an unnamed source, who said several private-equity firms have expressed interest in the children's retailer, including
Gymboree is seeking a price of $55 to $60 a share, the
reported. Shares of the company are gaining 5.9% to $51.07 in morning trading.
Other notable gainers include
, which is rising 4.7% to $28.87,
, which is up 4.8% to $24.07 and
New York & Company
, which is advancing 6.7% to $2.88.
is one of the only retailers in the red after it
cut its full-year and third-quarter revenue forecast
The women's apparel retailer said it now expects third-quarter revenue to decrease by a low-single-digit percentage due to inconsistent traffic. Talbots previously forecast a low single-digit increase. For the full year, Talbots now foresees revenue rising just 1%, also below its prior benchmark.
Shares of Talbots are plunging 11.6% to $11.09 in morning trading.
Barnes & Noble
was cut to sell by Goldman Sachs, which cited increasing pressure on its Nook e-reader and the unlikely possibility of a near-term change in ownership.
The brokerage firm also lowered its price target on the stock to $13 from $15.
was also downgraded earlier this morning, as the company faces tougher sales and margin comparisons over the next two quarters.
Goldman Sachs cut the retailer to neutral from buy and trimmed its full-year outlook by a penny to $1.90 a share.
-- Written by Jeanine Poggi in New York.
>To contact the writer of this article, click here:
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to: