Retail stocks slide on Wall Street on poor results
NEW YORK (AP) — Stocks are mostly lower on Wall Street in early trading as retailers report weak results.
Aeropostale fell after reporting a loss in the third quarter as the teen retailer slashed prices in an effort to pull in shoppers. L Brands, the owner of Victoria’s Secret and Bath & Body Works, fell after reporting that its sales dropped 5 percent last month.
The Dow Jones industrial average was down 33 points, or 0.2 percent, to 15,856 as of noon (1700 GMT) Thursday.
The Standard & Poor’s 500 index fell four points, or 0.3 percent, to 1,788. The Nasdaq composite was down seven points, or 0.2 percent, at 4,030.
The market has fallen over the past four days. If it closes down on Thursday it would match the longest losing streak since September.