Earlier this morning we reported that Macy’s is hiring 78,000 seasonal workers as it expects a good holiday season. That’s up 4% from a year ago. And the announcement appears to have given retail stocks a shot in the arm.
Piper Jaffray reiterated its “overweight” rating for Nordstrom today. But for the most part, though retail stocks seem to be piggy-backing off today’s stock market rally.
- J.C. Penney closed up 6.4% at $27.17
- Macy’s climbed 6.6% to $27.32
- Gap Inc. closed up 5.5% at $17.21
- Nordstrom rose 5.8% to $48.16
- Abercrombie & Fitch rose 5.5% to $65.56
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