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Investor Alert

Nov. 14, 2019, 10:34 a.m. EST

Dillard's stock skyrockets 17% after unexpected earnings beat, driving J.C. Penney stock up

Dillard's Inc. (NYS:DDS) stock soared 17% in Thursday trading after it reported a surprise profit, and lifted other department store stocks with it. J.C. Penney Co. Inc. (NYS:JCP) shares jumped 5%, Macy's Inc. (NYS:M) shares climbed nearly 3%, and Nordstrom Inc. (NYS:JWN) stock was up almost 2% on Thursday. Many department stores haven't reported their latest quarterly earnings, heading into a holiday season with both bullish forecasts for sales but concerns about the shortened shopping period. Dillard's stock has gained 32% for the year to date, the SPDR S&P Retail ETF (PSE:XRT) is up 9.1% and the S&P 500 index (S&P:SPX) has gained 23.4% for the period.

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