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 Quote) 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 Quote) fell 2% to $8.20, AnnTaylor Stores(ANN Quote) dropped 2.5% to $15.89, Talbots(TLB Quote) sank 4% to $9.23, New York & Co.(NWY Quote) declined 4% to $5.12 and Dress Barn (DBRN Quote) fell 2.5% to close at $17.93.

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

One of the few winners was Nike(NKE Quote), 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 Quote), which jumped 2% to $26.40 and Big Lots(BIG Quote), which grew 2.5% to close at $25.02.

-- Reported by Jeanine Poggi in New York

Follow TheStreet.com on Twitter and become a fan on Facebook.