The Market is Looking for a Scapegoat with the poor retail reports. The media, analysts, and investors all seek a quick answer to why certain economic factors are in play when they are. If it weren't corporate earnings, it would be blamed on something like our interaction with China, Russia, or even immigration factors.
Some companies with poor earnings are claiming to be in a "funk" but those low sales may not be short lived. There is more and more competition in the retail market from various online and brick and mortar locations. Customers have a choice where to spend their money and many are "going local" which may be to the demise of some big box stores. Only the future will tell if these companies are truly just experiencing a "funk" or if poor performance may be a long term situation.
A retail funk is not a reason to blame corporate performance. It is based on the economy and consumer spending habits. Another reason the economy slowed down was due to extreme wintry conditions at the beginning of the year. Corportion performance is not the reason for this current retail funk.
I believe we are in a true retail funk right now. With the loss of jobs and younger adults being more conscious of how they spend their money, spending has hit a low. I don't feel blaming corporations is the answer. Corporate performance has very little to do with people spending.