Shares of apparel retailers including Macy's (M) , J.C. Penney (JCP) , Kohl's (KSS) and Nordstrom (JWN) were gaining on Monday afternoon following a positive note from analyst firm Cowen & Co., which noted a rise in foot traffic.
Shares of Macy's were higher by 3.87% to $23.23, J.C. Penney stock was getting a boost by 3.04% to $5.09, Kohl's was up by 3.01% to $39.98, and Nordstrom was surging by 1.38% to $47.49 this afternoon.
"Large declines in national traffic have overshadowed consistently better traffic trends at apparel stores," Cowen said in a note, according to Market Watch.
What's Hot On TheStreet
Amazon wants to upend every business, or so it seems: New day, a new business Amazon AMZN wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.
In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.
The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s TSN Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron APRN .