RETAIL STOCKS GET HIT AGAIN

NEW YORK — Retailer shares got pummeled in a stock rout on what was hardly a Super Tuesday for Wall Street. The Dow Jones Industrial Average lost 374.47 to close at 9,796.03.
The Dow’s drop was triggered when one of its component stocks, Procter & Gamble, warned its earnings growth would be slower than expected, in part because of rising raw materials costs. Procter & Gamble shares lost 25 7/16 to 62.
Dillard’s lost 1 1/4 to 15 5/16 after it released lower-than-expected fourth-quarter earnings. Other general merchants to close lower included May, down 1 1/16 to 23 7/8; Federated, 1 7/16 to 33; Wal-Mart, 2 15/16 to 47 9/16, and Target, down 2 3/4 to 58. Although its fourth-quarter earnings were reported to have beaten expectations after the market closed, Kohl’s lost 1 3/8 to 75 7/16.
Among specialty retailers to lose ground were Tiffany, down 3 1/2 to 61 15/16; The Talbots, 1 13/16 to 35 5/16; Ann Taylor, 1 5/8 to 20; Limited 1 9/16 to 31 15/16; Intimate Brands, 1 15/16 to 30 1/6; Wilsons The Leather Experts, 1 1/4 to 22 3/4, and Men’s Wearhouse, down 1 1/16 to 23 1/2. Catalog retailer Lands’ End fell 2 7/8 to 30 11/16.
Apparel makers held up better in Tuesday’s difficult market, although Tommy Hilfiger fell 1 5/16 to 12 3/8; Jones Apparel Group lost 1 3/8 to 24 1/16; and Oxford Industries dropped 1 1/4 to 16 9/16. Estee Lauder tumbled 3 13/16 to 41 1/4.
A few stocks beat the trend and closed higher, among them LVMH Moet Hennessy Louis Vuitton (up 4 1/16 to 70 1/8) and Global Sports (up 1 1/4 to 23 1/4).

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