CARL ICAHN TAKE NOTE: There are a lot of bargain stocks in the retail sector right now.
Fearful of a slowdown in consumer spending, retail shares tumbled on Tuesday after a bleak report by the Commerce Department and a steep loss from Citigroup Inc.
As a result, the Dow Jones Industrial Average fell 2.2 percent to 12,501.11, while the broader S&P 500 slid 2.5 percent to 1,380.95. The S&P Retail Index dropped 1.9 percent to 364.83.
Coldwater Creek announced after market on Monday that it would miss fourth-quarter expectations, sending shares free falling more than 27 percent to a 52-week low of $3.63 in early-morning trading Tuesday. When the dust cleared, the retailer rebounded slightly, closing down 25.1 percent to $3.86.
New York & Co. also slashed fourth-quarter earnings guidance, sending shares of the women's apparel retailer plummeting 22.9 percent to close at $3.87. The firm said it expects earnings in the range of 15 to 19 cents a diluted share, down from previous guidance of 23 to 32 cents a share.
Many retail stocks are now trading below $10. Here's a list:
Fearful of a slowdown in consumer spending, retail shares tumbled on Tuesday after a bleak report by the Commerce Department and a steep loss from Citigroup Inc.
As a result, the Dow Jones Industrial Average fell 2.2 percent to 12,501.11, while the broader S&P 500 slid 2.5 percent to 1,380.95. The S&P Retail Index dropped 1.9 percent to 364.83.
Coldwater Creek announced after market on Monday that it would miss fourth-quarter expectations, sending shares free falling more than 27 percent to a 52-week low of $3.63 in early-morning trading Tuesday. When the dust cleared, the retailer rebounded slightly, closing down 25.1 percent to $3.86.
New York & Co. also slashed fourth-quarter earnings guidance, sending shares of the women's apparel retailer plummeting 22.9 percent to close at $3.87. The firm said it expects earnings in the range of 15 to 19 cents a diluted share, down from previous guidance of 23 to 32 cents a share.
Many retail stocks are now trading below $10. Here's a list:
| Retail Stocks Are Now Trading Below $10 | |
| Bebe Stores Inc. | $9.20 |
| Bluefly | $0.60 |
| Bon-Ton Stores | $5.68 |
| Caché | $9.86 |
| Christopher & Banks | $8.54 |
| Circuit City | $3.60 |
| Charming Shoppes | $4.44 |
| Chico's FAS | $6.71 |
| Casual Male | $3.66 |
| Coldwater Creek | $3.86 |
| Dress Barn | $9.52 |
| Eddie Bauer | $6.44 |
| Finish Line | $1.72 |
| Foot Locker | $9.84 |
| Finley Enterprises | $1.25 |
| Gander Mountain | $4.27 |
| Gottschalks | $2.23 |
| Hot Topic | $3.96 |
| Haverty Furniture | $8.11 |
| Jo-Ann Stores | $9.15 |
| 99 Cents Only | $6.32 |
| New York & Co. | $3.87 |
| Pier 1 Imports | $4.56 |
| Rite Aid | $2.13 |
| Red Envelope | $3.53 |
| Restoration Hardware | $3.93 |
| Retail Ventures | $5.28 |
| Shoe Pavilion | $0.91 |
| Sharper Image | $2.32 |
| Stein Mart | $3.81 |
| Talbots | $7.25 |
| Wilsons Leather | $0.78 |
| Wet Seal | $2.27 |
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