There were some disappointments from retailers early Thursday, most notably�Tiffany & Co.’s�(TIF) earnings’�missing estimates and the firm cutting its full-year outlook. In premarket action the stock is down about 8%.
Meanwhile, shares of�Target Corp.�(TGT) fell 3% after it said its November same-stores sales fell 1% — analysts were expecting growth of 2.1%. Macy’s Inc. (M) also fell short of estimates, and blamed Superstorm Sandy; the stock is down more than 1%. Nordstrom Inc. (JWN) continued its up and down week by falling 2.5% ahead of the open after a reporting a 1.1% drop in same-store sales.
The broader market was up on generally good economic news, after third-quarter GDP growth was revised up, to 2.7%, and jobless claims were seen to fall last week, albeit in both cases the good data was tempered by coming in below estimates. At the latest, futures for the Standard & Poor’s 500 index (SPY) were up about 0.5%.
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