J Crew stock fell sharply in the last week of trading after reporting better than expected earnings. Earnings in the second quarter were 32 cents per share beating th estimate of 29 cents. However, same store sales in the qarter dropped to 4% from 16% year ago. Chicos and Coldwater Creek stocks have faced similar declines after reporting earnings. Investors have sold stocks in the retail sector on the worries that the current subprime malaise may lower consumer spending in the days to come. |
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