Sector movers: Retailers hit by slowing sales growth

Retail stocks were off shopping lists again on Tuesday as some disappointing economic data prompted concerns about consumer demand.UK retail sales growth slowed for the second straight month in September, the British Retail Consortium (BRC) has revealed. Like-for-like sales growth fell to an annual rise of 0.7% last month, from 1.8% the month before - analysts were looking for a pick-up to 2% - as the unusually warm weather in September stifled sales of autumn and winter clothing, while grocery sales fell as supermarkets cut prices to lure shoppers.Rising house prices boosted sales of household goods, but clothing and footwear sales would have fallen had it not been for a double-digit contribution from online sales, the BRC said.High Street chains such as Marks & Spencer and Next were out of favour this afternoon on the FTSE 100, trading 3.1% and 1.4% lower respectively. B&Q and Screwfix owner Kingfisher was also down 1.4%.On the second-tier FTSE 250, sector peers Dixons Retail, Home Retail, Debenhams and Ted Baker were all in the red.KPMG's Head of Retail David McCorquodale said: "These figures are a reality check and will make retailers nervous as we enter the run-up to Christmas."Consumers are still cautious about spending and are reluctant to stock their wardrobes with winter woollies until the weather cools. The stark fact is that the retail recovery remains fragile."M&S was extending losses made on Monday after Credit Suisse retained its 'underperform' rating for the stock, saying that full-year forecasts "look demanding" after a weak first-half.The bank said the shares - trading at a 20% premium to the long-term average - look "overbought" after a 30% rise so far this year.Top performing sectors so far todayIndustrial Metals & Mining 1,505.49 +0.93%Technology Hardware & Equipment 1,139.82 +0.91%Industrial Transportation 3,034.58 +0.53%Real Estate Investment & Services 2,537.59 +0.40%Tobacco 35,714.52 +0.37%Bottom performing sectors so far todayGeneral Retailers 2,574.03 -1.49%Forestry & Paper 11,309.93 -1.41%Oil Equipment, Services & Distribution 22,978.17 -1.36%Household Goods & Home Construction 9,772.19 -1.28%Mining 16,094.46 -1.09%BC