Retail Winners & Losers: Blockbuster
NEW YORK (
) -- The retail sector is a mixed bag of stocks Monday, as several significant movers are neutralizing the S&P Retail Index.
Blockbuster
( BBI) and
Borders
( BGP)are topping the New York Stock Exchange's list of biggest decliners and advancers, respectively.
Blockbuster is plunging 8.6% to 36 cents, after it rallied last week following comments from its CEO James Keyes.
"We're in the middle of a dramatic transformation," Keyes told CNBC on Thursday. "During the course of this transformation, we're moving away from a total reliance on DVDs and now a different form of distribution for both DVDs and digital content. We're building new channels."
But investors have decided to look at the numbers, which paint a different picture. In its fourth quarter, Blockbuster widened its loss to $434.9 million, or $2.24 a share, as same-store sales tumbled nearly 16%.
Other notable decliners include
Zale
(ZLC)
, which is falling 3.6% to $2.66,
Coldwater Creek
(CWTR)
, which is off 3.4% to $7.09 and
Foot Locker
(FL) - Get Report
, which is dropping 2% to $13.96.
On the other end of the spectrum, Borders is surging 7.1% to $1.96, as investors grapple with the future of the struggling book retailer.
Warehouse club
PriceSmart
(PSMT) - Get Report
, meanwhile, is soaring 7.2% to $23.35, after it reported last week a 7.1% jump in February same-store sales.
J. Crew
( JCG) is increasing 2.7% to $46.85 ahead of its fourth-quarter earnings report due out on Tuesday. Analysts are calling for earnings of 46 cents a share on revenue of $443 million.
Other retailers releasing earnings reports this week are also gaining some speed.
Pacific Sunwear of California
(PSUN)
is rising 2.7% to $5.26 and
Zumiez
(ZUMZ) - Get Report
is up 2.4% to $19.12.
-- Reported by Jeanine Poggi in New York.
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