Retail Stks Post Mixed Results

[Stocks-to-Watch]

Retail stocks were down Thursday amid a broader*market decline*and a*mixed bag of earnings results in which several well known chains cut estimates or missed expectations.

The news wasn’t bad for everyone. Children’s Place Retail Stores (PLCE) gained 6.45%*to $51.45 during aftenoon*market *action after the youth-apparel chain boosted its forecast for earnings in 2012

Still, The Dow Jones U.S. Retail Index fell*6.3 points or 1.6% to 396.75, and the S&P Retail Index slipped*11 points or 2%*to 527.65.

Retail stocks have been climbing since last summer’s stock market selloff. Yet companies have been largely cautious with their expectations.

Same-store sales in October were disappointing, with many consumers putting off unnecessary purchases amid worries about the economy.

Perry Ellis International (PERY) fell 34% to $14 a share, posting the worst performance of any stocks in the Russell 2000 Index after the maker of sportswear and casual clothing reported disappointing third-quarter profit and sales and cut its financial projections.

Sears Holdings (SHLD) declined 4.4% to $65.22 a share, and at one point fell as much as 9.1%. And teen retailer Buckle (BKE) dropped 4.7%.

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Original Article Source by Barrons.com