Steve, Here is today's prognosis for the sector:
(For anyone who may think apparel is boring and non-volatile - i.e. fashion is fickle)
Liz Claiborne Inc. (LIZ) fell 10 1/8, or 20 percent, to 40 5/8 after the largest U.S. maker of women's clothing said profit for the year would be less than expected as retailers cut back on inventory. Shares of other clothing manufacturers fell today, as well. Polo Ralph Lauren Corp. (RL) fell 1 1/16, or 3.6 percent, to 28 1/4; St. John Knits Inc. (SJK) fell 1 5/16, or 3.4 percent, to 37 1/4 and Tommy Hilfiger Corp. (TOM) fell 1 5/16, or 2.2 percent, to 58.
American Eagle Outfitters Inc. (AEOS) rose 4 1/8, or 8.4 percent, to 53 1/2 as the clothing and accessory retailer said its fiscal second-quarter profit will beat analysts' expectations. The company expects earnings to exceed 32 cents a share for the quarter ending Aug. 1, compared with the 25-cent average estimate of six analysts by First Call. The company earned 5 cents a year earlier.
A had no positions since I did TOM yesterday. I did see some of LIZ's fall from grace today though. The apparel sector has had some cautionary news of a slowdown in the past week. I only bought TOM because I liked its chart. Thankfully I thought I'd buy a day early on the stochastics and only went for a point, even though TOM gapped up a bit at the open today a point from where I sold it.
Couldn't watch today and didn't want to trade with A.G. testimony ongoing. I'm going away early for the weekend and do not want to have any open positions.
Yes, I saw you mentioning HD and I was confused at the time because I trade DH (and HDI) and thought at first your comments were to DH - which of course were not making sense in that regard. So where does your wife shop? I started trading apparel stocks because I shopped at the stores. (Now enough of my money is tied up in the market that I frequent them less often. gg) |
