Retail Losers: Data Drag Down Sector

NEW YORK (TheStreet) -- Retailers were in the red on Wednesday, weighed down by disappointing manufacturing data.

The Chicago Purchasing Managers Index, which measures the health of Midwestern manufacturing industries, came in at 46.1, well below the 51 to 52 rating that most economists and analysts were expecting. A number under 50 suggests that the economy is shrinking.

High-end department store Saks(SKS) was off 5% to $6.82, after it announced yesterday that it is offering up to $100 million in common stock.

Women's retailers also felt the pinch, as Coldwater Creek(CWTR) fell 2% to $8.20, AnnTaylor Stores(ANN) dropped 2.5% to $15.89, Talbots(TLB) sank 4% to $9.23, New York & Co.(NWY) declined 4% to $5.12 and Dress Barn (DBRN) fell 2.5% to close at $17.93.

Shares of OfficeMax(OMX) tanked 3.5% to $12.58 and Zale(ZLC) tumbled 5.5% to end the day at $7.15.

One of the few winners was Nike(NKE), which soared 7.5% to close a $64.70, a day after its first-quarter earnings results beat expectations and it reported better-than-expected futures orders.

Other gainers included Family Dollar Store(FDO), which jumped 2% to $26.40 and Big Lots(BIG), which grew 2.5% to close at $25.02.

-- Reported by Jeanine Poggi in New York

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