It is not earnings driving this stock, it is the ten year rate
This company HAS good earnings despite being lower due to sheepskin the last two years. It was the ten year interest rate that killed us coupled witht he earnings hit as a result of sheepskin and warmer weather.
Now we have a more attractive interest rate as a comparison which makes us more attractive than dividend stocks and we have colder weather on its way, new product, ugg pure, store growth, etc.
We should be higher just because of the interest rate. 75/80 share at least before earnings