Why Macy's, J.C. Penney, and Kohl's Surged in November

Why Macy's, J.C. Penney, and Kohl's Surged in November

Shares of Macy's (NYSE: M), J.C. Penney (NYSE: JCP), and Kohl's (NYSE: KSS) jumped 26.9%, 18.2%, and 14.9% last month, according to data provided by S&P Global Market Intelligence.

The retailers delivered third-quarter financial results that were better than many investors feared, helping to fuel optimism that a strong holiday shopping season could drive continued gains.

These stocks' upward moves kicked into high gear on Nov. 9, when Macy's third-quarter adjusted earnings of $0.23 per share exceeded Wall Street's expectations for $0.19, and the company issued an optimistic outlook for the all-important holiday season.

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Source: Fool.com