Retail Losers: Zale, Rite Aid

NEW YORK (TheStreet) -- Retailer stocks were pummeled Friday after government data showed that consumer spending declined in September.

The Commerce Department said consumer spending slipped 0.5%, its lowest level in nine months. As a result, the S&P Retail Index shed 2.7% to 380.39.

The biggest loser of the day was Zale(ZLC Quote), whose stock plunged 23.6% to $4.93. The jeweler said it widened its loss in its fourth quarter and is being investigated by the Securities and Exchange Commission on accounting issues.

Shares of Rite Aid(RAD Quote) fell 4.5% to $1.27 one day after the drug-store chain posted a 0.5% drop in October same-store sales. The company was hurt by front-end sales, which stumbled 2.7%. The introduction of new generic drugs, meanwhile, weighed on prescription sales.

Vitamin Shoppes(VSI Quote) shares fell 3.1% to $18.10. The retailer began trading on the New York Stock Exchange on Wednesday at $17 a share, higher than the anticipated $14 o $16 a share.

99 Cents Only Stores(NDN Quote) saw its stock decline 5.4% to $11.36, while Sears(SHLD Quote) lost 3% to $68.50.

But there were some big gainers. OfficeMax(OMX Quote) shares jumped 10.1% to $12.02 a day after it said it swung to a profit in its third-quarter. The company beat Wall Street's expectations, and said it still expects to post a profit in the fourth quarter.

Other notable climbers included shares of Stein Mart(SMRT Quote), which grew 6.3% to $9.85, American Apparel(APP Quote), which advanced 3.5% to $2.95, and Zumiez(ZUMZ Quote), which rose 3.6% to $13.73.