Major Retailers Still Reporting Extremely Negative Comp Sales

May 15, 2009 at 9:44 am  ·  Category: Stocks

Here are some same store sales numbers for major retailers reporting yesterday and today:

  • JC Penney (JCP) same store sales down 7.5% in the quarter ended May 2, 2009 (JCP Earnings Release).
  • Nordstrom’s (JWN) same store sales down 13.2% in the quarter ended May 2, 2009 (JWN Earnings Release).
  • Abercrombie & Fitch (ANF) same store sales down 30% in the quarter ended May 2, 2009 (ANF Earnings Release).

Are these the kind of numbers that justify 60%-100% moves in these stocks over the last 2 months????

retail-stocks-2-month-chart

Disclosure: Top Gun is short Nordstrom’s (JWN) and has no position in JCP or ANF.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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