Which Retailer Will Be the Next Internet Blowup?

Wednesday wallop:

E-tail talk: There was a time, just a few months ago, that a bricks-and-mortar retailer's Internet operations helped spur investor interest in its stocks. Remember Williams-Sonoma's (WSM Quote) recent run up to 60? Investor enthusiasm, on the heels of rave reviews for its Web site, didn't hurt. Nor did it hurt Staples (SPLS Quote), which a few weeks ago announced a tracking stock for its dot-com.

But just look at what happened when Williams-Sonoma on Monday announced that higher-than-expected Internet costs would be a big factor in pulling down fourth-quarter profits: Its stock tumbled by 37%. And Staples, whose market value grew by $3 billion after announcing its dot-com spinoff, lost it all after disclosing that its Internet losses were bigger than expected. ...