Retailers Mostly Mum as Investors Worry

Tuesday's rebound aside, investors are still bracing for bad news in the wake of last week's terrorist attacks. Yet many retail and consumer companies have kept mum, which has shareholders on edge.

Shares in the retail sector dropped sharply Monday; despite Tuesday's gains, the S&P retail index was 3.6% below its Friday close. Companies such as online travel outfits priceline.com (PCLN Quote), Expedia.com (EXPE Quote) and Travelocity.com (TVLY Quote) have seen their shares sink as much as 50%. Yet none has issued press releases communicating with investors. (A priceline representative declined to comment, while spokespeople at Expedia and Travelocity didn't immediately return phone calls.)

Of course, even companies that made largely positive comments have seen their shares slide. High-end accessories retailer Coach (COH Quote), for instance, has said it expects to meet earnings estimates for the current quarter. The company, which had a store in the basement mall of the World Trade Center, said it expects first-quarter earnings of 27 to 28 cents a share on revenue of at least $150 million, in line with previous guidance. Still, its shares dropped 24%. ...