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Mother Nature: No Friend to Retailers in June (Updated)

Jeanine Poggi

Why does Mother Nature hate U.S. retailers? If only we could ask her.

Regardless, soggy weather is making retail sales even damper, with sales in the third week ended June 20 flat from the week prior, according to the International Council of Shopping Centers and Goldman Sachs.

Meanwhile, nationwide precipitation was 93% above last year's levels and 43% above its long-term average, according to Weather Trends International. And if there's one thing retailers love to blame for their woes, it's the weather.

Those same retailers are now crossing their fingers, though, as it's expected to be warmer and drier leading up to Independence Day, which could provide a late spur for seasonal goods.

ICSC expects June sales, minus Wal-Mart Stores(WMT Quote), which stopped reporting monthly figures last month, to be down 5%.

The S&P Retail Index fell 2% to 309.23 in morning trading. Notable decliners early included Talbots(TLB Quote), which tumbled 6.5% to close at $5.75.The women's apparel retailer is being berated for awarding its CEO a $1.2 base salary as it struggles through a financial mess.

In the department store sector, Macy's (M Quote)declined 4% to close at $10.89 and Sears (SHLD Quote)slipped 2% to $62.68 High-end player Saks(SKS Quote) sank 3% to $3.73, while rival Nordstrom(JWN Quote) dipped 3.5% to $18.27 in morning trading. Coach(COH Quote)gave up yesterday's gains, falling 5% to end the day at $25.13. The aspirational handbag and accessories retailer received some hype on Monday as investors and analysts anticipate the launch of the company's lower-priced Poppy line this Friday.

Discounter Target(TGT Quote) dropped 3% to $38.32.

Even Aeropostale(ARO Quote), a winner among retailers, lost 4.6% to $32.60.

There were some retailers in the green, however, including Office Depot(ODP Quote), which received a $350 million investment from a private equity fund on Tuesday. Shares of the office supplier grew 3% to close at $3.89.

Finish Line(FINL Quote) also continued on its winning streak, a day after the company announced it will cut ties with Man Alive. Shares jumped 3.4% to $7.70 at the close.