Will Macy's Magic Put a Spell on Department Store Stocks?

Is Macy's(M) an anomaly or indicative of how the department store sector will perform in the first quarter? That's the question being asked this morning after the company reported better-than-expected profit, raised its guidance and doubled its dividend.

The report comes as the department store sector on the whole headed into earnings season on a sour note, with nearly all companies reporting April same-store sales that missed forecasts last week. Out of the seven department stores tracked by TheStreet, only two beat expectations: Macy's and Dillard's(DDS).

Macy's results, and last month's sales beat, could be telling of how the rest of the sector will fair. Given this, Dillard's could be the next stock to watch heading into its first-quarter report on May 18.

Read Full Article from TheStreet.com

- Posted: 2011-05-11 09:20:04

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