(Stock prices updated at the close.)
NEW YORK (
) -- Retail investors seem to have confused its winners from its losers.
The retail sector rallied on Tuesday, and the S&P Retail Index ended the day up 2% to 354.64, lifted by some better-than-expected earnings reports from retailers. Despite posting lower quarterly profit, shares of both
soared on surprise earnings reports. Meanwhile,
and raised its guidance, saw shares slide on a weaker fourth-quarter outlook.
Granted, what's going to happen is more important than what already has, but neither Target or Saks appear to be on the path to recovery.
and saw double-digit decline in same-store-sales, but the loss was not as big as analysts expected, and shares jumped 7% to close at $5.72.
, but results were better-than-forecast, and shares skyrocketed 7.5% to $44.32.
Shares of TJX slipped 3% to end at $34.33, after the off-price retailer posted glimmering second-quarter results, but said fourth-quarter earnings, which include the holiday season, will be lower than what analysts expect.
Other notable movers included
( JCG), which jumped 8% to $30.37 after an analyst upgraded the company to outperform from market perform. BMO Capital Markets analyst John Morris said the company is laying the groundwork for a strong long-term performance partly on signs that its fall merchandise is off to a good start.
rose 6% to $11.15 and
climbed 6% to close at $14.96.
-- Reported by Jeanine Poggi in New York.
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