Retail Winners & Losers: Blockbuster - TheStreet

Retail Winners & Losers: Blockbuster

Retailers are on a downward spiral after President Obama announces his proposed bank rules.
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NEW YORK (

TheStreet

) -- Retail stocks saw their second day of losses following President Barack Obama's proposed bank plan.

The S&P Retail Index closed down 0.8% to 403.17, weighed down by one of the day's biggest decliners,

Blockbuster

(BBI) - Get Report

.

The video rental store plunged 33% to close at 49 cents after announcing that its

fourth-quarter loss will be larger than originally expected

. The company is now expecting a loss between $183 million and $193 million.

Wal-Mart Stores

(WMT) - Get Report

fell 1.8% to $52.92 after rival

Target

(TGT) - Get Report

announced it will

introduce a smaller store format and expand internationally

. Target could enter the Mexican market, where Wal-Mart operates its Walmex chain.

Target shares slipped 1% to $50.22.

Macy's

(M) - Get Report

lost 4.3% to close at $15.74. The department store announced earlier today that it will

open four Bloomingdale's outlets

in the middle of the year.

Shares of

Sears

(SHLD)

decreased 3.5% to $99.01,

Saks

(SKS)

sank 5.5% to $6.69 and

Nordstrom

(JWN) - Get Report

ended the day down 2.5% to $34.73.

Other losers include

Pacific Sunwear of California

(PSUN)

, which tanked 7.9% to $3.50,

Coach

(COH)

which dropped 3.5% to $34.10 and

Zale

(ZLC)

, which plummeted 11.9% to $2.51.

Despite the overall market bloodbath, there are some notable advancers.

eBay

(EBAY) - Get Report

soared 8.6% to $24.19 a day after it reported

better-than-expected fourth-quarter earnings

. The e-retailer received a boost from the sale of its stake in Skype and strength in its PayPal unit.

Rite Aid

(RAD) - Get Report

climbed 2% to $1.52 after

naming a new CEO

. President and Chief Operating Officer John Standley will take the reins at the drugstore in June, replacing Mary Sammons.

Under Armour

(UA) - Get Report

closed the day up 2.5% to $27.34 after it was upgraded by UBS to neutral from sell.

Hot Topic

(HOTT)

jumped 7.3% to $6.01 and

Talbots

(TLB)

soared 7.4% to close at $11.01.

-- Reported by Jeanine Poggi in New York.

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