Why are retail satock crashing?

Retail stocks like Wal-Mart, Macys, Nordstrom and Kohl's have been dropping like rock. Why? Is it competition from the internet, or harbinger of bad economic times to come? For consumer spending accounts for two-third of the American economy and last it only rose less then 1 percent of 1 percent, now low gas price account for that, but remember when gas price begin to fall so many people said it was like tax cut, henceforth, people would begin to spend.It hasn't happen so what are people doing with money? Not saving maybe paying down debt? Wal-Mart once and maybe still is a bellweather for American Economy.
Wibur Ross, the great distressed investor said to protect one's self for rasing interests buy bank stock. I didn't understand why he said nothing about margins being higher with high interest. It's all about margin for profit, a bank with higher interest will charge more but if there have pay more for there money maybe less profit to be made.
This morning saw interview with Sarah Palin on CBs this morning and was a favorable piece.