NEW YORK, N.Y. - The legacy of J.C. Penney's former CEO is being felt at the department-store chain. Penney on Thursday reported that it widened its loss in the first quarter on a 16 per cent drop in revenue. It marks the fifth-straight quarter that the company has posted large declines. The company's stock fell 2 per cent in extended trading after the earnings report was published.

NEW YORK, N.Y. - Nordstrom Inc. said Thursday its first-quarter net income fell 3 per cent, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The results were below Wall Street estimates, a rare miss for the luxury retailer given that higher-end spenders have generally kept shopping in the lacklustre economy. The company's stock fell more than 3 per cent in aftermarket trading.

NEW YORK, N.Y. - Indexes are slightly higher at midday on Wall Street, pushing the stock market further into record territory. Cisco Systems soared 13 per cent, the most in the Dow Jones industrial average, after the network equipment maker reported results that beat the estimates of financial analysts who follow the company. Wal-Mart fell after the giant retailer blamed higher payroll taxes, bad weather and delayed tax refunds for a sales slump that disappointed investors. The Dow was up 15 points at 15,290 at midday Thursday, an increase of 0.1 per cent.

NEW YORK, N.Y. - The first few months of the year were tough for Wal-Mart Stores Inc. The world's largest retailer reported Thursday that its first-quarter profit edged up just slightly, and the company struggled with a sales slump in its namesake business during the three-month period. The discounter also offered a quarterly profit outlook that came below Wall Street's projections. Its stock fell on the news.