After reporting first-quarter results that included a softer sales and earnings outlook, shares of specialty retailer Zumiez Inc. were down more than 18 percent to $24.25 in morning trading, which follows a 9 percent decline in after-market trading yesterday.
Retail stocks were down across the board this morning following a May same-store sales report that was weak save for a handful of apparel retailers. The data suggests that consumers are still holding onto their money. The S&P Retailing Industry Group index was down 0.1 percent to 1,140 while both the S&P 500 and the Dow Jones Industrial Average were up 0.2 percent.
Investors are also weighing the jobs report, which was better than expected and signaled a possible rate hike this fall.