NEW YORK (
) -- Retailers are tumbling after today's report revealed that consumer confidence has unexpectedly fallen.
to 47.7. Analysts had expected it to increase to 53.5 -- demonstrating just how much analysts know. The news sent the
S&P Retail Index
down 1.8% to 389.24 in afternoon trading.
Earnings Parade Rolls On
One of the day's biggest decliners is
, which is falling by 7.6% to $18. The specialty retailer raised its third-quarter outlook on Monday, but also said that October sales will drop more than expected.
is also in the red, despite reporting a third-quarter profit that beat analysts' outlook.
But while the company upped its full-year forecast to 87 cents from 80 cents a share, it implied a weak fourth quarter.
Shares of the company are falling 11% to $29.45 in afternoon trading.
Despite being upgraded,
is also losing steam. The electronic retailer was upgraded by KeyBanc Capital Markets to hold from underweight on
Shares are dropping 3.3% to $17.55.
Other notable decliners include
, which is falling 6.1% to $37.75,
, which is sliding 3.1% to $1.26,
, which is sinking 5.3% to $40.05,
, which is plunging 8.1% to $6.28 and
, which is off 5.1% to $6.28.
There are, however, a few standout winners, the biggest being
. The yoga-inspired apparel retailer is soaring 9% to $28 after upping its third-quarter forecast. The company now expects to earn between 17 cents and 19 cents a share, up from a prior outlook of 11 cents to 13 cents a share.
is also picking up some gains, after
. As a result, shares of the game retailer are up by 1.3% to $24.40.
-- Reported by Jeanine Poggi in New York
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