Department stores no longer passe

U.S. department stores have staged a comeback in the last two years as chains such as Macy's (NYSE:M) and JCPenney (NYSE:JCP) are seeing a surge in sales. When Q2 reports come out, Macy's is expected to show a 4 percent growth; JCPenney a 5.8 percent increase; and Nordstrom (NYSE:JWN) a 3.2 percent rise. Not bad for a sector of retail that supposedly hit its peak in 2000 with $232.5 billion in sales. Story