Coles Myer Ltd (ASX:CML) shares fell a further 2.7 per cent today as investors grew increasingly wary of the impact the slowing economy may have on Australia's biggest retailer. The retailer's shares fell for their fourth straight day, closing at an intraday low of $7.14, down 20 cents. "As we've got closer to Christmas in the last two weeks, most of the indicators of economic activity have been poor," ABN Amro retail analyst Richard Cahill said. "While Coles had a fairly solid month of November in terms of its share price performance, it's weakened as we've got to the end of that period."