Seeking Alpha

Department store stocks back in favor

  • A number of beat-up department store stocks are showing surprising strength to start off the week.
  • J.C. Penney (JCP +7.6%), Sears Holdings (SHLD +3.3%), Kohl's (KSS +1.9%), and Bon-ton Stores (BONT +2.2%) are making the strongest moves.
  • Retail analysts attribute the rally to some positive channel checks in the sector, while recent positive comments from execs at V.F. Corp and Phillips-Van Heusen haven't hurt sentiment. (VFC cc transcript, PVH cc trancsript)
Comments (3)
  • Magones
    , contributor
    Comments (2) | Send Message
     
    I think 'heavily shorted stocks are being squeezed again as hedge funds continue to unwind risk' is closer to the truth... but perhaps JCP is really turning things around this time. Ha.
    28 Apr, 11:52 AM Reply Like
  • NWCats404
    , contributor
    Comments (223) | Send Message
     
    Yeah this is the second straight Monday where we've seen JCP up big without any real news. I'll take it, but it seems more about rotation of money than fundamentals.
    28 Apr, 02:54 PM Reply Like
  • Spacely's Sprockets
    , contributor
    Comments (140) | Send Message
     
    Seems like the shorts have become comfy with a pattern of loading up on JCP on Monday to take advantage of the Friday down market. Make that money.
    I'm feeling JCP may throw a wrench in that flow one of these Fridays by dropping a major announcement which will strike off a Friday rally though.
    28 Apr, 03:11 PM Reply Like
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