Nordstrom, J.C. Penney lead sector lower for 2nd day

Retail stocks fell for a second straight day, led again by department store operators, after upscale retailer Nordstrom Inc.'s first-quarter profit missed Wall Street expectations and J.C. Penney Co.'s gave outlooks that were weaker than expected.

However, regional department store chain Dillard's Inc. was a bright spot after its first-quarter profit sharply beat analysts' estimates.

While retailers have improved their sales and profits against easier year-earlier comparisons, they also said they want to be conservative in their outlooks against continued economic uncertainty. Analysts also said it's become increasingly difficult for retailers to meet Wall Street's increasingly higher expectations.

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- Posted: 2010-05-14 13:18:30

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