Teen retailing can be a difficult business, and unpredictable for investment analysts who fear the fickle fashion trends of 16-year old girls. The recession turned the teen retail industry on its head, but this wasn’t necessarily bad news for all. Some retailers actually saw significant improvement in sales, some helplessly watched sales fall off a cliff, and some of the retailers with multiple brands targeting different price points weren’t impacted much at all. This is Economics 101, where we learned about how “inferior” goods such as Spam would see increased demand in a weak economy. Now that we have a sense for what store profitability looks like in both a strong and weak economy, we can better understand risk. And uncertainty in the market has created attractive opportunities across the board…