Macy's ( M ) stock plunged close to 18%, its worst day in history, after the company reported sluggish sales for November and December and trimmed its guidance. Macy's and Kohl's weakness dragged department store peer Nordstrom ( JWN ) down 4% and JCPenney ( JCP ) close to 5%. JCPenney said on Tuesday that its holiday sales decreased 3.5% from last year and it would close stores this year. Big box retailersTarget's holiday sales increased 5.7% from last year, putting the company on track for its best year since 2005. Macy's, Kohl's, and Victoria's Secret parent L Brands ( LB ) were the three worst performers on the S&P 500 Thursday.

Source: CNN January 10, 2019 20:41 UTC