The local share market is enjoying a return to form today, but few shares are rising as strongly as OrotonGroup Limited (ASX: ORL). The handbag and fashion accessory retailer's share price has surged 27.3% higher today to trade at $2.61.
The shares are still trading 8.4% below the highs they achieved late last year and are a long way off the levels around $9.50 achieved early in 2014, but shareholders will at least be relieved that they've rebounded from their low of $2.01 last month.
Notably, shares of Myer Holdings Limited (ASX: MYR) have also soared 12.7% today to $1.24. The gains for both companies came after they released their half-year earnings results to the market.
Myer's report was upbeat, including comparable store sales growth of 7.1% across 12 Victorian and New South Wales Flagship and Premium stores, while OrotonGroup lifted its net profit by 73% to $3.8 million during the half.
That's a lot better than what some analysts were expecting and could well explain the soaring share price today.
