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Opening glance: Broadline retailers up with Macy's



By AP
14 May 2008 @ 10:11 am EST

NEW YORK - Shares of some broadline retailers and department stores rose in morning trading Wednesday after Macy's Inc. reported a first-quarter loss, but stood by its full year forecast.

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Amid a difficult economic environment, investors were relieved that Macy's results weren't worse. Stocks also gained after a better-than-expected government report on inflation eased some fears about rising prices.

Here's how some broadline retailers and department stores fared early trading:

Wal-Mart Stores Inc., up 60 cents to $57.01.

Target Corp., up 69 cents to $53.94.

Macy's Inc., up $1.52, or 6.3 percent, to $25.58.

J.C. Penney Co., up 51 cents to $44.56.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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