Sears Holdings Corp.was the worst-performing stock in the S&P 500 Wednesday morning.
While the S&P index was down 1.4 percent, Sears Holdings shares dropped $4.76 or 8.3 percent, to $52.74. Earlier in the day it was down percent 12.6 percent to $51.55.
The stock has traded as high as $85.90 and as low as $28.89 in the last 52-week period. Sears’ shares fell based on macro consumer worries, according to Morningstar analyst Paul Swinand.
The drop comes a day before May same-store sales are reported. Analysts are estimating 1.8 percent bump in the important retail indicator compared with 5.5 percent a year earlier. Sears does not release monthly same-store sales figures.
Sears competitor Macy’s, released their May same-store sales Wednesday, posting a gain of 4.2 percent and exceeding analysts’ predictions. Macy’s stock was down 57 cents, or 1.4 percent, at $38.42 Wednesday morning.
J.C. Penney, another competitor, is estimated to see a 12 percent decline in same-store sales compared to a 1.5 percent gain last year. Its shares were trading down 85 cents, or 3 percent, at $27.16.
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