Shares of retailers The Gap Inc. (NYSE: GPS), Target Corp. (NYSE: TGT) and Macy’s Inc. (NYSE: M) are sinking this morning after posting disappointing December sales figures.

As of 9:47 a.m. (EDT), Gap, Target and Macy shares are down 6.9 percent, 5.8 percent and 3.9 percent, respectively.

Sales were negatively impacted by the huge post-Christmas blizzard in the Northeastern U.S. as well as renewed reluctance by consumers to spend.