Skip to main content

NEW YORK (

TheStreet

) -- Retailers are tumbling after today's report revealed that consumer confidence has unexpectedly fallen.

The Conference Board's Consumer Confidence Index sank more than 10% in October

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

Image placeholder title

One of the day's biggest decliners is

Limited Brands

(LTD)

, 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.

Under Armour

(UA) - Get Under Armour, Inc. Class C Report

is also in the red, despite reporting a third-quarter profit that beat analysts' outlook.

TheStreet Recommends

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,

RadioShack

(RSH)

is also losing steam. The electronic retailer was upgraded by KeyBanc Capital Markets to hold from underweight on

better-than-expected earnings released

on Monday.

Shares are dropping 3.3% to $17.55.

Other notable decliners include

Guess

(GES) - Get Guess?, Inc. Report

, which is falling 6.1% to $37.75,

Rite Aid

(RAD) - Get Rite Aid Corporation Report

, which is sliding 3.1% to $1.26,

Aeropostale

(ARO)

, which is sinking 5.3% to $40.05,

Coldwater Creek

(CWTR)

, which is plunging 8.1% to $6.28 and

Office Depot

(ODP) - Get ODP Corporation Report

, which is off 5.1% to $6.28.

There are, however, a few standout winners, the biggest being

Lululemon Athletica

(LULU) - Get Lululemon Athletica Inc Report

. 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.

GameStop

(GME) - Get GameStop Corp. Class A Report

is also picking up some gains, after

announcing it will hire 15,000 seasonal staffers for the holidays

. As a result, shares of the game retailer are up by 1.3% to $24.40.

-- 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 This material may not be published, broadcast, rewritten, or redistributed.