Investors display renewed confidence in department stores

In reaction to Mastercard's report of a 4.9 percent rise in holiday spending, investors yesterday sent share prices of a number of U.S. department store chains skyward. According to Reuters,  J.C. Penney's shares surged 7.6 percent, Kohl’s went up 5.8 percent, Macy’s spiked 5.1 percent and Nordstrom rose 2.8 percent.