(Reuters) - Retail stocks have been the laggards as the rest of the stock market has rallied for most of April and May. April sales forecasts for retailers were set low based on Easter falling early and unfavorable weather in April, but many companies still disappointed analysts' expectations.
"Retailers are part of the fundamental story. The market is expecting the consumer to slow down," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont. "The failure of the retail stocks to break out in this rally shows a lot of market participants believe the consumer buying power may be slowing down later this year."
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