(Updated from 11:22 a.m. ET)
Many of the largest U.S. retailers turned positive or pared their losses by midday Thursday, after opening the session primarily to the downside, as monthly retail sales figures for May were released, showing mixed results.
, the nation's biggest retailer, posted an increase in
same-store sales for the month, but the results were at the low end of expectations. Shares of Wal-Mart, a component of the
Dow Jones Industrial Average, recently rose 0.5% to $51.04 in
New York Stock Exchange trading.
Standard & Poor's Retail Index
was climbing 0.5%, and the
Dow Jones U.S. Retailers Index
was gaining 0.4%.
May Department Stores
rose 1.2% to $33.26 after reporting higher sales compared with year-ago results, but
, where sales also rose, was trading up 2.9% to $62.35.
said its comparable-store sales were 0.9% higher than last May's. For the four weeks ended June 2, total sales increased 6.9% to $2.7 billion.
said its monthly same-store sales fell 10%, and the retailer now expects second-quarter comp sales to be weaker than was previously forecast. Target inched up 0.3% to $37.44, and Gap was dropping 2.5% to $30.60.
all said their same-store sales fell in May, and shares of the department store operators sold off in response, but rebounded from their earlier lows. Sears was losing 1.4% to $39.97, while Kmart was trading down 0.2% to $10.72. J.C. Penney slid 1.7% to $22.54.
Abercrombie & Fitch
was falling 7% to $40.11, and
was trading lower by 0.1% to $35.74.
American Eagle Outfitters
was dropping 2% to $37.76.
stayed higher, gaining 3% to $38.64 after reporting that its May same-store sales fell 0.3%. But those results followed a 29.4% comp-sales increase in the same month a year ago. Talbots also projected second-quarter earnings of 25 cents to 27 cents a share, up from 23 cents in the same period last year. According to
Thomson Financial/First Call
, analysts are looking for income of 26 cents.