NEW YORK (
) -- 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 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
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
, which is decreasing 4.5% to $44.10 and
, which is sinking 2.0% to $36.55 on heavy trading volume.
One of the only companies in the green is
, 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.
is inching up 0.3% to $10.11, while
is growing 2.2% to $9.78.
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
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.