In the U. S. retail stocks are being massacred. As an example, Nordstrom (JWN) is down about $13 this morning after reporting lousy earnings. Even discounters such as TJX are being hit as Nordstrom Rack reported lower comps. This follows on the heels of Macy’s (M) experiencing one of the biggest losses ever for the stock. Accessory maker Fossil is down $12.
On the positive side, KSS and JCP have reported good earnings.