Why Macy's Shares Are Rising

Shares of companies in the retail sector, including Macy's Inc M are trading higher amid strength in stocks today. Movement is possibly related to economic recovery hopes, which could lift sector sentiment.

Macy's shares also saw strength in mid-October trading following reports suggesting Saks Fifth Avenue's eCommerce unit has begun preparations for an IPO at a $6 billion valuation.

Macy's operates nearly 600 stores under the Macy's brand, 56 stores under the Bloomingdale's brand, and about 160 freestanding Bluemercury specialty beauty stores. 

Macy's has a 52-week high of $28.53 and a 52-week low of $6.01.