SHARES in the major retailers continued their downward spiral yesterday with Myer recording its lowest price since listing in October 2009.
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A spate of shock earning downgrades and news of subdued post-Christmas sales dampened investor sentiment, with Myer shares shedding 1.8 per cent to close at a historic low of $1.955.
Its department store rival David Jones also had a disappointing day, closing 5¢ down at $2.38 - the lowest since March 2009.
Harvey Norman shares fell 4¢ to $1.81, electronics retailer JB Hi-Fi lost 29¢ to $11.35 and surfwear retailer Billabong dipped half a cent to $1.795.
Outdoor adventure wear retailer Kathmandu had a slightly more positive day, gaining 1¢ to $1.33.
Last week, Billabong, Kathmandu and JB Hi-Fi all issued earnings or sales downgrades for the first half of this financial year.