Sector Snap: Department Stores

Most retailers reported lower-than-expected same-store sales, with many blaming an early Easter. Stores are typically closed on Easter, meaning one less day of revenue. Also, consumers appeared to balk at buying spring merchandise when it still felt like winter outside.

The retailers said they will likely post better results in April, because they will have an extra selling day included in the results this year now that Easter is already past.

Kohl's Corp. lowered its quarterly outlook below Wall Street analyst estimates after reporting its same-store sales fell 15.5 percent. The results was lower than the 11.7 percent drop analysts polled by Thomson Financial expected.

Kohl's blamed weak sales of spring and summer merchandise, including shorts, tank tops and sandals.

Shares, though, rose 51 cents to $42.91 in morning trading.

At J.C. Penney Co. Inc., same-store sales fell 12.3 percent. Analysts had expected a drop of 11.7 percent for the month.

But investors, who were already expecting that same-store sales at the company would fall at least 10 percent, pushed shares up 70 cents to $39.62.

Even luxury department stores saw sales dip during the month. Nordstrom Inc. same-store sales fell 9.1 percent, only slightly lower than the 8 percent decline expected by analysts.

Nordstrom shares rose 81 cents to $34.10.