SALES CONCERNS HIT RETAIL SHARES

NEW YORK — The Dow Jones Industrial Average on Tuesday slumped 84.85 to 10829.28, and many retail stocks fell amid concern about same-store sales results, due to be reported Thursday.
Retail sales on average are expected to be ahead of last year, but according to early reports from analysts, results at Sears, J.C. Penney and some others are expected to be below plan.
Among major retailers losing ground were Dayton Hudson, off 1 15/16 to 57 13/16; Sears, Roebuck, 2 to 37 1/2; J.C. Penney, 2 7/16 to 36 1/4; Federated Department Stores, 15/16 to 46; Kohl’s Corp., 4 to 71 5/8; Saks Inc., 1 to 16 13/16, and May Department Stores, 1 1/18 to 39 1/16.
Other retailers taking hits were Bebe Stores, 1 1/16 to 24; Footstar, 1 1/8 to 32 1/2; Limited, 1 1/8 to 37 7/8, and Wal-Mart, 1 3/16 to 44 5/16.
Some retailers rose on news. Robinson Humphrey initiated coverage with a “short term/long term buy” on both Abercrombie & Fitch and American Eagle Outfitters. Abercrombie shares jumped 2 5/16 to 35 1/4, and American Eagle shares rose 1 1/4 to 39 1/4.
Other fashion companies on the upswing were Tiffany & Co., up 1 to 53 1/2, and Kellwood, 1 7/16 to 23 7/8.
Vendors slipping behind included Liz Claiborne, off 1 1/16 to 37 1/16; Tommy Hilfiger, 2 1/16 to 33 15/16; VF Corp., 1 11/16 to 36; Nike, 2 3/8 to 46 3/4, and Quiksilver, 1 1/16 to 17 1/4.

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