NEW YORK (
) -- 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,
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.
fell 1.8% to $52.92 after rival
announced it will
. Target could enter the Mexican market, where Wal-Mart operates its Walmex chain.
Target shares slipped 1% to $50.22.
lost 4.3% to close at $15.74. The department store announced earlier today that it will
in the middle of the year.
decreased 3.5% to $99.01,
sank 5.5% to $6.69 and
ended the day down 2.5% to $34.73.
Other losers include
Pacific Sunwear of California
, which tanked 7.9% to $3.50,
which dropped 3.5% to $34.10 and
, which plummeted 11.9% to $2.51.
Despite the overall market bloodbath, there are some notable advancers.
soared 8.6% to $24.19 a day after it reported
. The e-retailer received a boost from the sale of its stake in Skype and strength in its PayPal unit.
climbed 2% to $1.52 after
. President and Chief Operating Officer John Standley will take the reins at the drugstore in June, replacing Mary Sammons.
closed the day up 2.5% to $27.34 after it was upgraded by UBS to neutral from sell.
jumped 7.3% to $6.01 and
soared 7.4% to close at $11.01.
-- Reported by Jeanine Poggi in New York.
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