Friday's Winners & Losers: ITT

On the losing side, Christopher & Banks(CBK Quote) plunged 11% after the women's apparel retailer installed a new CEO. The company said Matthew Dillon has resigned as president and chief executive, effective immediately. Lorna Nagler, most recently president of Charming Shoppes' (CHRS Quote) Lane Bryant chain, will replace him.

Following the announcement, CIBC World Markets downgraded the company's stock to sector performer from sector outperformer. Shares of Christopher & Banks closed down $1.49 to $12.08.

United Natural Foods (UNFI Quote) lost 1.8% after the company's fiscal fourth-quarter results missed expectations. For the quarter ended July 18, the natural-foods distributor reported earnings of $13.1 million, or 31 cents a share, on sales of $706.8 million. Analysts expected earnings of 34 cents a share and sales of $723.3 million.

For fiscal 2008, United Natural forecast earnings of $1.40 to $1.45 a share, with revenue of $3.05 billion to $3.13 billion. Analysts project earnings of $1.46 a share and revenue of $3.14 billion. Shares closed down 49 cents to $26.84.