In August, the company unveiled a four-year turnaround plan to close stores and slash costs, but the benefits have yet to appear as the retailer continues torevise guidance downward.
Shares throughout the sector lost ground during Monday's trading session as Taiwan Semiconductor Manufacturing, became the latest semiconductor company torevise its guidance downward.
The continuing waves of negative economic reports in May, June, July and now into August have had economists scrambling torevise their growth forecasts downward, but they have not been quick enough to keep up with the pace of the downbeat reports.