It's very tough to say what is really cheap with anything related to the consumer but some of these might look cheap enough for money managers trying to put money to work. I doubt the economy is recovering this year but there could be some managers positioning for it if they're crazy enough. I'm looking at these potentially as fairly quick trades over days to weeks max not long-term holds.

Liz Claiborne LIZ
Strong today (up 20%) along with the sector. Net tangible book of $394 mil and trading at about 62% of net tangible book. Lot of debt. Triple bottom off of $2. Approaching resistance at $2.92.

Tuesday Morning TUES
At a $1 it is trading at about 30% of its net current assets. 90% of that is in inventory though.

Charming Shoppes Inc. CHRS
At around $.90 it is trading at a 38% discount to net tangible assets of $289 mil.

In big-caps Amazon AMZN looks nice. One of the few companies performing.

More retail stocks around net quick assets

full disclosure: no positions