Retail Losers: Wal-Mart, Rite Aid
NEW YORK (
) -- A boost in consumer sentiment was overshadowed by disappointing durable goods and new-home sales data, making investors less optimistic then shoppers.
Retail shares were in the red Friday afternoon, with the S&P Retail Index down 1.4% to 372.52.
Even
Wal-Mart Stores
(WMT) - Get Report
, whose stock price has remained relatively stable this summer, saw a 2% decline to $49.61. Rival
Target
(TGT) - Get Report
followed suit, declining 3% to $46.34.
Rite Aid
(RAD) - Get Report
continued on its losing streak, tanking 6% to $1.61, a day after it said it
and lowered its full-year outlook.
Jewelers
Tiffany
(TIF) - Get Report
and
Zale
(ZLC)
lost some of their glimmer. Tiffany sank 1.5% to $36.24, and shares of Zale were off 4% to $7.01.
Other notable decliners included
Saks
(SKS)
, which slumped 3% to $6.73;
OfficeMax
(OMX)
, which slipped 3% to $12.35;
Abercrombie & Fitch
(ANF) - Get Report
, which fell 2% to $31.80; and
Bed Bath & Beyond
(BBBY) - Get Report
, which was down 2% to $36.92.
But some retail stocks were on the upswing. The biggest gainer was
Finish Line
(FINL)
, which reported on Thursday that it
.
But the company also said it expects the red ink to ease and sales comparisons to become easier in the second half of the year, an outlook that sent shares of the sneaker retailer soaring 12% to $10.39.
Rival
Foot Locker
(FL) - Get Report
saw its stock price rise 4% to $11.82 in afternoon trading, while
Nike
(NKE) - Get Report
gained 1% to $58.81.
Buckle
(BKE) - Get Report
, meanwhile, once again spiked 7% to $33.72, feeding off a special one-time dividend of $1.80 a share, announced earlier this week, which came on top of its regular quarterly dividend.
-Reported by Jeanine Poggi in New York.
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