* Dow component Cisco falls after weak growth forecast
* Nordstrom sinks on full-year forecast cut
* Oct. retail sales barely rises; misses forecast
* Futures down: Dow 53 pts, S&P 5.25 pts, Nasdaq 18.75 pts (Adds details, comment, updates prices)
By Abhiram Nandakumar
Nov 13 (Reuters) - U.S. stock indexes were set to open lower on Friday as weaker-than-expected October retail sales data and department store chains lowering forecasts fueled fears of a slowdown in demand ahead of the key holiday selling season.
Data showed U.S. retail sales rose 0.1 percent in October, missing the 0.3 percent forecast, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth.
Department store chains Macy’s and Nordstrom have both reported disappointing results and lowered their full-year forecasts in the past two days.
“People’s confidence that the consumer can somehow offset this industrial recession that we’ve had is really being shaken to the core with the disappointing numbers from some of these major retailers,” said James Abate, CIO of Centre Funds.
At 8:38 a.m. ET (1338 GMT), S&P 500 e-minis were down 5.25 points, or 0.26 percent, with 199,068 contracts traded.
Nasdaq 100 e-minis were down 18.75 points, or 0.41 percent, on volume of 27,329 contracts. Dow e-minis were down 53 points, or 0.3 percent, with 24,633 contracts changing hands.
Nordstrom’s shares sank 21 percent to $50.12 premarket. J.C. Penney slipped 3.87 percent to $8.45 after its results on Friday.
Fossil dropped 22 percent to $39.74 after the watchmaker said sales in the current quarter could fall as much as 16 percent.
U.S. companies, already faced with a potential rate hike in December and a strong dollar, have been reporting signs of slowing demand.
Dow component Cisco fell 5.6 percent to $26.28 after it gave a weak forecast, citing a slowdown in order growth and weakness in its enterprise business outside the United States.
Wall Street suffered its worst session in over a month on Thursday, dragged down by energy and materials stocks and comments by a Federal Reserve policymaker hinted at an approaching interest-rate hike.
The Dow and S&P 500 closed below their 200-day moving averages, which some traders believe portends additional declines.
Mylan NV rose 9 percent to $47.04 after it said 40 percent of Perrigo’s shares were tendered in its $26 billion hostile takeover offer, falling short of the goal of 50 percent. Perrigo dropped 9.2 percent to $142.81.
Fitbit fell 7.4 percent to $29.28 after its share offering was cut to 17 million shares from 21 million shares and priced at an 8.5 percent discount to its Thursday closing price.
The University of Michigan’s preliminary consumer sentiment index is forecast to have risen to 91.5 in November. The data is slated for release at 10:00 a.m. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D‘Souza)