(Bebe and Dress Barn news added; stock prices updated.)

NEW YORK (

TheStreet

) -- The lack of any key economic data and fears of this week's major retail earnings reports are combining to help keep investors away from retail stocks on Monday.

TST Recommends

Amazon Bans Chinese Merchants For Alleged Attempts To Bribe Customers To Write Good Reviews
Play

Amazon Targeted by Teamsters in Union Drive

Amazon 'exploits its employees, contractors, and employees of contractors,' the Teamsters charge. The union resolves to organize the retail giant.

Canada Goose Prices IPO at C$17
Play

Canada Goose to Stop Using Animal Fur in Products

Canada Goose said it would end fur purchases by year-end and cease manufacturing with fur by the end of 2022.

The sector was awash in red, with the S&P Retail Index down 2% to 365.89, as investors await earnings reports from major market movers like

Wal-Mart Stores

(WMT) - Get Report

,

Macy's

(M) - Get Report

,

Kohl's

(KSS) - Get Report

,

J.C. Penney

(JCP) - Get Report

and

Abercrombie & Fitch

(ANF) - Get Report

later in the week.

One of the biggest losers of the day was

Best Buy

(BBY) - Get Report

, which was

downgraded by Goldman Sachs

to neutral from buy, as consumers are seeking cheaper outlets like discounters and online retailers for buying their electronics.

The news sent shares of the electronic retailer down 5% to $37.75 in morning trading.

Contemporary apparel retailer

Bebe

(BBY) - Get Report

, was also downgraded by an analyst at Raymond James to underperform from market perform, sending shares plunging 10% to $6.80.

Analyst Samantha Panella said Bebe's higher prices -- such as $99-$119 jeans -- put pressure on sales.

Despite the pessimism, there were a few winners:

Barnes & Noble

(BKS) - Get Report

saw its shares jump 8% to $25.90 after it announced the

acquisition of its College Booksellers

.

Dress Barn

( DBRN) was upgraded by Panella to outperform from market perform, citing the company's mid-price merchandise as recession-friendly -- although shares of Dress Barn still dragged, falling 3% to $16.10.

Shares of discounter

Fred's

also climbed 7% to $13.18, while

American Apparel

(APP) - Get Report

rose 3% to $3.99.

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 This material may not be published, broadcast, rewritten, or redistributed.