[R]10:00AM New York - Abercrombie & Fitch Co sales fell 23% and net loss was $26.7 million. J. C. Penney Company, Inc sales fell 8% and net loss quarter was $1 million.[/R]

Abercrombie & Fitch Co, the specialty retailer reported second quarter sales fell 23% to $648.5 million from $845.8 million a year ago. Net loss in the quarter was $26.7 million or 30 cents per diluted share compared to net income of $77.8 million or 87 cents per share a year ago.

Comparable same store sales decreased 30%.

Abercrombie & Fitch Co (ANF: chart) in the last one year traded as high as $55.34 in September 2008 and as low as $14.15 in November 2008. Based on the yesterday’s closing price of $32.96 the company has market cap of $2.90 billion.

J. C. Penney Company, Inc, the department store chain reported second quarter sales fell 8% to $3.94 billion from $4.28 billion a year ago. Net loss in the quarter was $1 million or break even per diluted share compared to net income of $117 million or 52 cents per share a year ago.

Comparable same store sales decreased 9.5%.

J. C. Penney Company, Inc (JCP: chart) in the last one year traded as high as $43.22 in September 2008 and as low as $15.67 in March 2009. Based on the yesterday’s closing price of $33.34 the company has market cap of $7.86 billion.

TAM S.A., Brazil''s airline reported second quarter sales fell 8% to R$2.3 billion from R$2.5 billion a year ago. Net income in the quarter rose 134% to R$788.9 million compared to net income of R$337 million a year ago.

TAM S.A. (TAM: chart) in the last one year traded as high as $22.68 in September 2008 and as low as $5.63 in April 2009. Based on the yesterday’s closing price of $14.18 the company has market cap of $2.14 billion.