Retail Sector Rallies For Second Day

Retail Sector Rallies For Second Day On Stronger Than Expected Holiday Sales, Privatization Reports

JC Penney took the retail and investment worlds by surprise this week when the long embattled retailer announced sales growth during the holiday season of 3.7%. JC Penney shares gained 2% Wednesday to close at $7.89.

On Thursday Costco Wholesale became the second major retailer to report better than anticipated December sales results. On January 4, Costco reported a 3% increase in same store sales compared to estimates of 2.8%.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s