STOCK MARKET RALLY CARRIES SOME RETAIL STOCKS ALONG

NEW YORK — Many retailers rallied along with the broader stock market Tuesday, but a few lost ground due to concerns about poor sales trends over the Memorial Day weekend.
Several Wall Street firms said sales slowed significantly at department stores and discounters last weekend, which should result in the second straight month of below-plan sales.
Colder weather in the East slowed momentum seen earlier in the month, but most analysts said consumer fundamentals still seem healthy. Retailers will report results on Thursday.
Among those expected to miss plan in May sales are Target, down 2 1/8 to 62 5/16; May, off 1/16 to 29 1/4; Saks, sliding 3/16 to 11 1/4; and Kmart, which was flat at 7 11/16. Wal-Mart gave back 5/8 to 53 3/8, although it’s expected to meet comp gains between 5 and 7 percent. Other decliners included Gap, 1/16 to 34 7/16, and Deb Shops, 1 1/4 to 13.
Federated, up 1/2 to 36 15/16, and Sears, ahead 7/8 to 36 1/4, are each projected to be in line with plans. Kohl’s, up 9/16 to 49 15/16, is one of the few broadline chains expected to beat plan. Pacific Sunwear of California regained 9/16 to 16 1/18, after falling 5 11/16 Friday on concerns over May sales.
Talbots Inc. jumped 3 3/16 to 56 1/2 after saying it would expand its stock repurchase program by $20 million. Other gainers included Spiegel, 1 5/32 to 7 25/32; Neiman Marcus, 15/16 to 24 15/16; Tiffany, 1 9/16 to 56 5/8; The Limited, 3/4 to 48 1/8; and Intimate Brands, 2 7/16 to 45 7/8.
Overall, the Dow Jones Industrial Average rose 228.23 points, or 2.2 percent, to 10,527.47, while the Nasdaq Composite gained 254.18 points, or 7.9 percent, to 3,459.29, driven by a jump back into technology stocks.