By and  on November 13, 2013

Unexpectedly strong third-quarter profits and sales at Macy’s Inc. helped lift U.S. retail stocks to an all-time high today.

The S&P Retailing Industry Group gained 1.9 percent to end the day at 913.65, its highest level ever, and Macy’s led the sector with a 9.4 percent gain to $50.68. Macy’s established a new record of $50.95 earlier in the day after reporting after its net income soared 22.1 percent and sales advanced 3.3 percent, both well ahead of analysts’ consensus estimates.

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