Shoppers rush through the doors of Macy's at 5a.m. ET in search of Black Friday bargains in New York, November 27, 2009.
Shoppers rush through the doors of Macy's at 5a.m. ET in search of Black Friday bargains in New York, November 27, 2009. REUTERS

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.

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