Both went up 5% on SSS. BKE expected decrease of 1% and we went up 5.1%. ANF only went up 5%, .1% less, but was expected to go down 6%. Is that the reason for the large disparity in price movement today? Don't get me wrong, $1.94 up is awesome, but ANF went up $5.28. Why the huge difference?
Yeah, that was me. ANF is a reversion trade. Their comps were awful last year, and folks are betting on it being easier for them to beat (even with the prediction they'd be down 6%-last year was much worse).
ANF is not the company that BKE is, but to be fair when expectations are low, as they were for ANF, the news was seen as more of a surprise to the up side. I think BKE and others will see positive momentum from strong retail numbers. As I said before, as cash on the books goes up for BKE the more popular it gets. BKE's inside owners love the big dividends just as much as the retail investors.