Macy's and Nordstrom to Open Near 52-Week Highs

Lots of stocks hit 52-week highs yesterday as the markets rose. Among them were department store operator Macy's M and fashion retailer Nordstrom JWN, which reached $31.37 and $53.35 per share, respectively, in Monday's trading session. Cincinnati-based Macy's reported strong quarterly results recently due in part to strong online sales at its namesake site and at Bloomingdales.com. The retailer also raised its full-year earnings guidance. The company operates some 850 stores in 45 states, Guam and Puerto Rico. Macy's has a market cap of $13.3 billion and was founded in 1820. Macy's has a dividend yield of 1.3% and a return on equity of 19.4%. The P/E ratio is less than the industry average and its operating margins are higher than the industry average. The share price is about 28% higher than six months ago, and it has jumped almost 8% in the past week. The stock has outperformed competitors Dillard's DDS and JCPenney JCP over the past six months. Nordstrom saw stronger sales in September than many of its competitors, and revenues are forecast to be 13% higher year-over-year in the current quarter. Nordstrom has also been a rumored takeover target. Seattle-based Nordstrom has a $11.2 billion market cap and operates more than 220 stores in 30 states that offer apparel, cosmetics and accessories. The dividend yield is 0.9%. Nordstrom's P/E and PEG ratios are greater than the industry average, but so is the operating margin. The return on equity is 35.2%. The share price has increased more than 26% year to date and is up about 16% in the past month. Since the beginning of the year, the stock has outperformed competitors Macy's and Saks SKS.