Company made this announcement about a month ago, and the stock price languished in the 7's until last few days. Ladenburg has reiterated buy rating and stock price has been moving up. Appears that buyers are looking past the bad earnings in latest move.
With earnings due tomorrow, I wonder what will happen if SKO announces soft trends for the next quarter and on ward. I sold 1/2 my position at $8.60 this morning. I cannot see why this stock would advance further on poor expectations. The Ladenurg analyst has a terrible track record.
Dillard Departments Store (DDS) reported earnings revenues down and earnings down 50%. Though expected, stock is still getting blasted.
The same thing can happen tomorrow morning with SKO.
Everyone knew about the warning for a month. That is why the stock didn't go down on the news today, and will resume upward move. Only question is how far the advance in near term. I'm planning to sell at $11 resistance, unless stock price blows through it.