Department store shares fall on JC Penney

NEW YORK (Reuters) - Shares of department store chains fell before the bell on Friday after JC Penney Co (JCP.N: Quote, Profile, Research) slashed its first-quarter earnings outlook.

JC Penney shares fell more than 14 percent to $34.72 in pre-market trading.

Shares of Macy's Inc (M.N: Quote, Profile, Research) were down 5.8 percent at $22. Nordstrom Inc (JWN.N: Quote, Profile, Research) shares fell 5.5 percent to $32.69. Kohl's Corp (KSS.N: Quote, Profile, Research) stock lost 5.7 percent to $42 and Sears Holdings Corp (SHLD.O: Quote, Profile, Research) stock slid 3.3 percent to $101.99.