Retail Names Continue Slide (BBY, COH, TIF, M)

A string of retail names are getting smashed down despite a small rally in stocks today. The trend in Best Buy BBY, for example, has been straight down after a higher opening. On the day, BBY has fallen 2.36% to $33.06. Shares of luxury retailer Coach, Inc. COH have lost 2.38% to $34.92. Tiffany & Co. TIF has plunged 3.28% to $35.98. Volume has been heavier than normal in TIF. Another notable retailer that is moving lower despite the move up in the broader indices is Macy's M, which has lost 1.23% to $17.63. These moves in retail names may be foreshadowing the general direction of the market this week as traders and investors continue to worry about sluggish growth in the global economy.