Are Department Store Stocks Really Worth Buying Now?
The stock market remained volatile on Thursday after a late-day drop the previous day. Investors are still trying to parse through the latest insight from the Federal Reserve's most recent monetary policy meeting, and that sent stocks on a roller-coaster ride. At 12:15 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 48 points to 34,913. However, the S&P 500 (SNPINDEX: ^GSPC) gained 11 points to 4,411, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 64 points to 14,590.
Retail stocks have gotten a lot of attention this week, with some high-profile names reporting their latest financial results. Department store retailers Macy's (NYSE: M) and Kohl's (NYSE: KSS) weighed in with their reports, and both stocks posted substantial gains. Below, we'll look at what Macy's and Kohl's said and what it could mean for the future of retail.
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Source Fool.com
