A Poor Retailer’s Profits Pummel Wall Street


U.S. financial markets sailed southward on Thursday, as the Dow Jones Industrial Average fell 23.69 points, to 20,919.42, and the Nasdaq Composite declined 13.18, to 6,115.96.

The retailer sector suffered significant declines, and some of these companies could be one of your key advertisers.

Kohl’s shares slid 7.9%, to $37.14, as sales continue to shrink at the retailer despite a growth in profits.

Target Stores dipped 4.1%, to $56.04, on heavy volume of 12.4 billion shares, as jittery investors reacted to Kohl’s bad earnings report.

Meanwhile, a stunning $2.2 billion loss in Q1 led investors to bail out on Snap Inc., the parent of Snapchat.

At the closing bell, Snap stock was off $4.93, to $18.05.

The primary reason? Slower user growth.

Prime movers among media companies include Beasley Broadcast Group, which dipped 2.7%, to $9.

Lastly, Pandora Media had a dismal day on Wall Street, falling 4.5%, to $9.50. It’s Pandora’s lowest closing price in a year.

For a complete look at today’s closing prices, simply visit the homepage of RBR.com and go to our all-new Wall Street Report.