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Retailers Send Mixed Messages on the Sector’s Health

Shoppers enter a TJ Maxx store in Peoria, Ill.

Retailers navigating a rocky landscape didn’t see a lot of clarity Tuesday as Dick’s Sporting Goods Inc. DKS -20.70% and Coach Inc. COH -13.96% reported weak results while TJX Co TJX +1.72% s, and Home Depot Inc. HD -3.19% posted strong quarterly sales.

Dick’s shares plunged 17% to $28.96 in morning trading, while Coach fell 13% to $41.57. TJX inched up 1.7%, while Home Depot was down 3.5%

Consumer spending has been strong, though more of the spending is shifting to online purchases. Sales at retailers and restaurants jumped 0.6% in July from a month earlier, the biggest increase since December, the Commerce Department said Tuesday.

Dick’s posted a 0.1% uptick in sales at stores open at least a year, less than the 2% to 3% increase the company had expected, and it lowered its earnings forecast for the year.

In a call with analysts, Dick’s...