Ahead of Black Friday and the holiday shopping season, some retailers are looking rosy.
Michael Kors (KORS), Dicks Sporting Goods (DKS), TJ Maxx (TJX), Saks (SKS) all reported their latest quarterly results Tuesday. Shares of each moved higher. Home Depot (HD), which isn't as much of a Black Friday beneficiary, also posted strong results and cited the ongoing housing recovery. Shares of Home Depot and Dicks Sporting Goods each jumped more than 4%.
Investors appear generally pleased with consumers' shopping habits and are optimistic going into the holiday shopping season. Many on StockTwits are too.
Hurricane Sandy might continue helping Home Depot, but companies like Dicks Sporting Goods had even more surprising reasons for a sales pickup: gun sales.
With the two-day market shutdown due to Hurricane Sandy, investors didn't do much with their money last week.
Overall, they pulled $488 million from long-term mutual funds in the week ended Oct. 31, according to the Investment Company Institute.
But that's far less than normal.
During a typical MOREHibah Yousuf - Nov 8, 2012 2:22 PM ET
Whole Foods (WFM) warned shareholders that it will take a one-time charge for losses related to Hurricane Sandy. Investors raced out of the stock, causing it to drop more than 5% Thursday.
The Sandy-related worries forced investors to ignore an otherwise solid quarter in which sales spiked 24%. Sales at stores open for more than one year jumped 8.5%, and profits rose 49%. Whole Foods CEO John Mackey said the MOREMaureen Farrell - Nov 8, 2012 1:51 PM ET
Trillions of dollars worth of stock certificates and other paper securities that were stored in a vault in lower Manhattan may have suffered water damage from Superstorm Sandy.
The Depository Trust & Clearing Corp., an industry-run clearing house for Wall Street, said the contents of its vault "are likely damaged," after its building at 55 Water Street "sustained significant water damage" from the storm that battered New York City's financial district MOREBen Rooney - Nov 2, 2012 11:52 AM ET
Not a member yet?Sign up now for a free account