By  on July 25, 2008

Retail stocks fell over 2 percent Thursday as renewed concerns about the housing and finance markets combined to sink the Dow Jones Industrial Average more than 283 points.

Among the biggest decliners was Charlotte Russe Holding Corp., whose shares lost about one-seventh of their value, dropping at one point to a three-year low after the firm was downgraded by Roth Capital to “hold” from “buy.” The company late Wednesday said it expected same-store sales to decline in the low- to midsingle digits during its current fourth quarter, with earnings per share, excluding charges, coming in at 15 to 23 cents, well below the 30 cents initially expected by analysts.

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