Retail Losers: Zale, Best Buy, Walgreen

Retailers are sinking as the dollar rises.
Author:
Publish date:

NEW YORK (

TheStreet

) -- Retailers are in the red on Friday as investors recoil from the increase in the U.S. dollar.

The S&P Retail Index is off 0.4% to 404.99 in afternoon trading, led down by big decliners like

Zale

(ZLC)

and

Best Buy

(BBY) - Get Report

.

Zale is plunging 13.4% to $2.19 after it reported on Thursday that

November same-store sales tumbled 18.6%

. As a result, it was reported that the jeweler canceled some of its orders.

It's been an eventful week for Best Buy's stock. After hitting a new 52-week high Monday, shares of the electronics retailer have fallen after reporting a

disappointing margins outlook for the fourth quarter

.

While the company saw profit in the third quarter more than triple, it said it is selling more lower-margin items like notebook computers and entry price-point televisions.

Shares of Best Buy are declining 2.8% to $39.79 in afternoon trading.

Other notable decliners include

J.Crew

(JCG)

, which is decreasing 4.5% to $44.10 and

Walgreen

(WAG)

, which is sinking 2.0% to $36.55 on heavy trading volume.

One of the only companies in the green is

Nike

(NKE) - Get Report

, after it said on Thursday that future orders for early spring rose, despite a 4% decline in second-quarter profit.

Shares of the athletic footwear and apparel company are climbing 2.4% to $64.75 in afternoon trading.

The news also drove up shares of other footwear companies.

Footlocker

(FL) - Get Report

is inching up 0.3% to $10.11, while

Finish Line

(FINL)

is growing 2.2% to $9.78.

Children's Place

(PLCE) - Get Report

is also on the upswing after being upgraded by Sterne Agee to buy from neutral. As a result, shares of the children's apparel retailer are jumping 2.6% to $31.71.

--

Reported by Jeanine Poggi in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.