Tallahassee, FL 4/24/12 (StreetBeat) -- Big Lots Inc. (NYSE:BIG -20.38%) shares tumbled 21% to $36 on Tuesday after the closeout retailer said late Monday that its first-quarter U.S. comparable sales would decline instead of its previous projection of an increase. The company's stock was downgraded by several firms including Deutsche Bank and Raymond James.Electronics retailer RadioShack Corp. (NYSE:RSH -8.37%) shares fell 4.6% after the company posted an unexpected first-quarter loss. Coach Inc. (NYSE: COH -3.46%) fell 5.7% after the upscale handbag designer's North American comparable sales fell short of some analysts' estimates. Wal-Mart Stores Inc. (NYSE:WMT -1.04%) shares fell 1% and its 69% owned Mexican subsidiary Wal-Mart de Mexico's MX:WALMEXV -0.45% stock was down 2.2%. The shares declined for a second day after a New York Times article alleged the company used bribery to expand its growth in its biggest foreign unit. Credit Suisse cut its rating on Walmex to neutral from outperform.
Among the few gainers, True Religion Apparel Inc. (Nasdaq: TRLG +4.89%) rose 4% after Brean Murray raised the stock to buy from hold.
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