The S&P 500 was down 0.16%, the Dow Jones Industrial Average fell 0.13%, and the Nasdaq added 0.09%. The Dow closed lower for its fourth straight session in a row.
Nordstrom fell 10% after same-store sales came in below analysts' projections. Comparable-store sales fell 0.8%, worse than the 0.1% decline analysts had forecast. Net income of 31 cents a share beat estimates by 4 cents. Revenue rose 3.1% to $3.35 billion, edging past consensus by $10 million.
Nordstrom's recent quarter only highlights how Amazon (AMZN) is shaking up the retail sector, Jim Cramer argues on TheStreet's premium site for investors, Real Money. Get his insights with a free trial subscription.
J.C. Penney tumbled more than 9% after falling short of sales estimates. Revenue declined to $2.7 billion from $2.8 billion, compared with estimates it would be unchanged. Same-store sales declined by 3.5%, far steeper than an anticipated decline of 0.7%. The department store chain anticipates full-year same store-sales will be 1% lower to 1% higher.
Retail sales rose at a healthy pace in April, a promising sign that recent strength in consumer confidence had begun to translate to spending. U.S. retail sales increased 0.4%, slightly weaker than an expected increase of 0.5%. Sales were up 4.5% compared to a year earlier. March's monthly decline of 0.2% was revised to show a 0.1% increase.