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Here are some same store sales numbers for major retailers reporting on Thursday and Friday:

  • JC Penney (NYSE:JCP) same store sales down 7.5% in the quarter ended May 2, 2009 (JCP Earnings Release).
  • Nordstrom’s (NYSE:JWN) same store sales down 13.2% in the quarter ended May 2, 2009 (JWN Earnings Release). [Read JWN's conference call transcript here]
  • Abercrombie & Fitch (NYSE:ANF) same store sales down 30% in the quarter ended May 2, 2009 (ANF Earnings Release). [Read ANF's conference call transcript here]

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.

Source: Major Retailers Report Poor Earnings: Why Are Their Stocks Up 60%-100%?