Published on June 12, 2012 at 12:59 pm
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Published on May 16, 2012 at 6:46 pm
In yesterday’s post, we discussed the retail sales numbers and how we were beginning to see quite a bit of weakness entering the department stores and clothing brands. Our suspicions were proven founded as earnings from several retailers and more specifically, JC Penney (JCP) and Abercrombie and Fitch (ANF) would come in worse than expectations. We saw JCP finish on the lows of the day down almost 20% and we witnessed ANF slip to -13.5% to finish off the trading session.
