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11-23-2011, 11:21 AM
NEW YORK (MarketWatch) -- Retail stocks fell on Wednesday after data showed Americans slowed their spending in October ahead of the industry's critical holiday selling period. Data that showed a rise in weekly U.S. jobless claims also doused sentiment. Retailers from Wal-Mart Stores Inc. to Gap Inc. are keeping open many of their stores on Thanksgiving Day with Wal-Mart kicking off its doorbuster specials at 10 p.m. Other retailers from Target Corp. to Kohl's Corp. will open their doors at midnight on Friday as the industry readies for so-called Black Friday, which traditionally starts the holiday shopping period. The S&P Retail Index fell 0.9%. Kohl's was down 1.8%. Macy's dropped 1.7%. Target was down 1.3%. J.C. Penney declined 1.2%. Wal-Mart dipped 0.4%.
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