Department Stores Largely Miss Sales Expectations
Thursday, November 3, 1:51 PM ET

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Iconic department store Macy's (NYSE:M) posted same-store sales growth of 2.2% in October, missing analyst estimates.

Rival Dillard's (NYSE:DDS) reported an 8% increase in same-store sales in October, well ahead of analyst expectations.

J.C. Penney (NYSE:JCP) missed analyst expectations as well, with a 2.6% decline in same-store sales.

At the value end of the spectrum, Kohl's (NYSE:KSS) posted a 3.9% increase in October same-store sales, just ahead of estimates.

TJX (NYSE:TJX) also beat expectations, with 3% same-store sales growth.

At the high end, Saks (NYSE:SKS) reported same-store sales growth of 1.8% in October, well below analyst estimates.

And Nordstrom (NYSE:JWN) posted a 5.4% increase in October same-store sales, missing analyst estimates as well.

The Dynamic Retail Portfolio (AMEX:PMR), in which Macy's is among the top five holdings, is trading down about 2.4% Thursday.

The Retail HOLDRS (AMEX:RTH) is trading down about .6% today. And the SPDR S&P Retail ETF (AMEX:XRT) is trading down 2%.