Couple that with the increasing price of gasoline again and I think retail will be pressured for 2013. Just ask any family earning less than $100K and they will tell you it hurts. The company can do more buyback, but it is swimming against the tide. Not to mention, insiders are selling.
I have no idea what you are talking about.
a) " I talked to a lot of teenagers and 20something the last couple of days and the tax increase was a big bite on their paycheck." You are making this up and you have no idea what you are talking about. 2% tax on a $150 Teen paycheck is $3. You can't even buy a pair of socks at AE for that amount.
b) Gas prices were much higher when AE sales were growing double digits. So, you are trying to push your politcal view here.
I'm not pushing political view. Just common sense and research view here. Ask these questions:
1. Why did the share price did not go higher after the Nov. 28, earnings report? Also, last Xmas was the most hyped Xmas buying season, yet the share price did not go up and the in addition the revenue has now been revealed as disappointing.
2. Ask your family what the tax increase meant to their paychecks?
3. I live in CA and after a dip in gas price a month ago, has now increased.
4. Obama is now talking on tv about the budget ceiling...what do you think that will do to people's psyche? or the market's psyche?
5. Look at the major retailers M, KSS, TGT, GPS, JCP, etc. and they are going down.
6. Insider sell is a fact.