Amazon masks deepening wounds in retail stocks before holidays

New York

INVESTORS won't find much to celebrate if US retailers continue their descent. The megalith that is Amazon.com Inc is overshadowing broader weakness, as one-third of large-cap stocks in the industry are heading for their worst annual losses since 2008.

From specialty apparel to department stores, 2015 is shaping up as an uncommonly bad year for stocks in the industry as consumers cut back on spending in October. Dollar Tree Inc, Macy's Inc and Tiffany & Co are among 11 stocks in the 31- member Standard & Poor's 500 Retailing Industry Group Index poised to post their biggest declines since the US economy was in the midst of a recession.