Investors recently were satisfied with stable economic development of the US, however, approaching season of holiday sales makes them worry, Reuters writes. It seems that sellers put too much effort to outpace rivals.

Not very impressive earnings reports from such retail chains as Target, Kohl’s Corp and Lowe’s Cos Inc reminded investors that US tariffs on imported goods will hit customers and result in profit cuts. On Tuesday shares of Target fell by 10% as profit margin declined due to rising investments in online business, higher wages, lower prices and increasing costs of preparing and sending orders.

As a result, many retail chains faced the choice: reduce profit or challenge the future growth. Investors are now more careful in making investment decisions. Portfolio manager of Eaton Vance Corp reduces holdings in JC Penny and prefers Nordstrom. The shares of last one gained 10% this year, while JC Penny lost almost 60% of its value.

Analytics think that retailers’ role in customers’ lives changed a lot recently, and sellers have to invest much more to rebuild connection with buyers. The question is whether investors will feel comfortable with it or not.