NEW YORK (
) -- Retailers are rallying after October sales grew more than expected.
S&P Retail Index
is rising 1.3% to 410.53, after the Commerce Department said
, better than the 1% uptick analysts' forecast.
Women's retailers are seeing some the biggest gains after
was upgraded to buy from hold by Jesup & Lamont.
Shares of the company are spiking 8.9% to $14.13 in afternoon trading and sent up its rivals.
is advancing 6.5% to $13.71,
is soaring 7.4% to $5.25 and
is spiking 11.5% to $8.51.
Also in the spotlight is teen retailers
Pacific Sunwear of California
PacSun, which is slated to report its third-quarter results at the close, has seen some merchandise improvement. Analysts expect the company to lose 20 cents a share during the quarter.
Shares of the surf-inspired retailer are leaping 6.1% to $5.08 in afternoon trading.
Hot Topic is set to report its results on Tuesday, and is up 4.7% to $6.87.
Other notable movers include
, which is up 5% to $6.90,
, which has added 6.3% to $40.30 and
, which is surging 11.7% to $3.35.
One of the only retailers in the red is
, which is falling 0.5% to $21.74, after posting a
Revenue also slipped 3% to $11.38 billion from $11.73, while same-store sales sank 7.5%.
-- Reported by Jeanine Poggi in New York
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