JC Penney and Inditex, main laggards

In trading on Tuesday, department stores shares were

relative laggards, down on the day by about 0.7 percent. Helping drag down the group were shares of JC Penney (JCP), down about 10.7 percent.

Also lagging the market Tuesday were apparel stores shares, down on the day by about 0.6 percent as a group, led down by Cache (CACH), trading lower by about 15.8 percent and Abercrombie & Fitch (ANF), trading lower by about 2.1 percent.

Stocks picked up steam in the afternoon trading, boosting the Dow Jones Industrial Average to a record intraday high of 14,716.46. The Dow also closed at a record high of 14,673. The gains were overshadowed though by a possible insider trading scandal at KPMG and the step down of JC Penne'ys CEO.

As a consequence of the difficulties that KPMG currently goes through, shares of Skechers (SKX) were halted for some of the trading day. A senior partner at KPMG is accused of passing along information on companies who used KPMG for audits.

American Apparel (NYSE: APP) was downgraded by Zacks to a “neutral” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings.Net reports. They currently have a 2.20 dollars price target on the stock. The shares traded down 0.71 percent on Tuesday, hitting 2.085 dollars. American Apparel has a 52-week low of 0.77 dollars and a 52-week high of 2.40. The company’s market cap is 224.3 million dollars.

Finally, in Spain, national benchmark index closed down by 1,19 percent, mainly weighted by fashion mogul Inditex, that closed the session with the worst performance.