The predicted acceleration in troubles for retailers is playing out in force, with half a dozen major companies - including Willams-Sonoma Inc. (WSM) and Phillips-Van Heusen Corp. (PVH) - indicating signs of distress since late Wednesday.

Housewares retailer Williams-Sonoma said it will cut 1,400 jobs - 18% of its full-time staff - as part of an effort to trim fiscal 2009 overhead costs by $75 million before taxes.

Phillips-Van Heusen, which supplies clothes under brands including Calvin Klein, DKNY, Kenneth Cole and Izod, said it will reduce jobs and shut 175 stores over the next two to three years to reduce costs.

Jones Apparel Inc. (JNY) projected a fourth-quarter loss and $840 million in goodwill write-downs as it slashed planned capital spending as well as its dividend by 64%.

Charlotte Russe Inc. (CHIC) reported a first quarter loss of 7 cents a share and projected a second quarter loss of 10 cents a share to 20 cents a share.

The mall-based women's apparel retailer also said it is evaluating strategic alternatives, including a possible sale of the company and has received potential expressions of interest.

Filene's Basement Corp. (BSMTQ), which offers names like Gucci, Armani and Dolce & Gabana at off-prices, reportedly plans to close 11 of its 36 stores. A spokeswoman for Filene's couldn't be reached.

Fortunoff is for sale again, less than a year after the jewelry and higher end-home furnishings retailer emerged from bankruptcy through its purchase by NRDC Equity Partners, Women's Wear Daily reported. Fortunoff didn't return a phone call requesting comment.

The latest developments are occurring in a week that was already full of less than uplifting events for retailers.

Wal-Mart Stores Inc. (WMT) on Wednesday received a rare stock downgrade, as Credit Suisse reduced its rating to neutral from outperform. Credit Suisse said Wal-Mart faces a sales slowdown because of economic conditions and the maturity of its own U.S. operations.

J.C. Penney Corp. (JCP), thought of as an industry stalwart, felt compelled on Tuesday to issue a statement that it's financially sound. J.C. Penney acted after J.P. Morgan analyst Charles Grom said the retailer's financial performance was deteriorating to such a degree that covenant violations are likely.

Coach Inc.'s (COH) second-quarter net income dropped 14% amid weak sales and margins and the leather goods retailer said it will be selling its iconic handbags for 10% to 15% less.

The worst is hardly over, for many reasons, including high unemployment, poor levels of consumer confidence, and greater consumer savings rates, analysts say.

Conditions for retailers are "brutal," said Matt Bordwin, managing director with KPMG Corporate Finance LLC.

Bordwin doesn't see much, if any, improvement before the third or fourth quarter of this year.

-By Karen Talley, Dow Jones Newswires; 201-938-5106; karen.talley@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.