5/28/24 - $anf - see better setups elsewhere, risky. sidelines.
5/28/24 - vrockstar - 
ANF - heresy to dislike this valuation? i get it's had a renaissance. it's profitable. 5% yield that's good! 19x PE! good capital stack. it's still cheaper than 
LULU without any of the baggage all else equal. the issue here, my friends, is this price point is becoming more and more problematic. 
PDD's temu just crushed it. discount brands are taking share. me-too styles are eating away at brand leaders. i worry we'll see this show up sooner than later in the ANF equation.
i'm going to be sitting out on this one b/c i'm not a fan of shorting a hot tape and nevermind a red hot individual chart like this one. but it's one of these situations where it's hard to park and ride for a few days of additional upside and in any down day, it could a. be large and b. see a follow-on reaction like we did in the white-girl-wasted names that reported earlier...
TGT, LULU, 
SBUX, 
ULTA (
ELF was the exception - congrats/ but the growth equation was like massive double digit and it's a discount brand too).
if you're gonna bet on retail that generates good margin, slightly larger biz, "less" discretionary - i'd go with
DKS reporting the same AM and i'll be writing up in a moment - though i'm not probably on the sidelines here.
careful fam. no need to get taylor-swift-kick-in-the-nuts.
ANF - heresy to dislike this valuation? i get it's had a renaissance. it's profitable. 5% yield that's good! 19x PE! good capital stack. it's still cheaper than LULU without any of the baggage all else equal. the issue here, my friends, is this price point is becoming more and more problematic. PDD's temu just crushed it. discount brands are taking share. me-too styles are eating away at brand leaders. i worry we'll see this show up sooner than later in the ANF equation.i'm going to be sitting out on this one b/c i'm not a fan of shorting a hot tape and nevermind a red hot individual chart like this one. but it's one of these situations where it's hard to park and ride for a few days of additional upside and in any down day, it could a. be large and b. see a follow-on reaction like we did in the white-girl-wasted names that reported earlier...
TGT, LULU, SBUX, ULTA (ELF was the exception - congrats/ but the growth equation was like massive double digit and it's a discount brand too).if you're gonna bet on retail that generates good margin, slightly larger biz, "less" discretionary - i'd go with
DKS reporting the same AM and i'll be writing up in a moment - though i'm not probably on the sidelines here. careful fam. no need to get taylor-swift-kick-in-the-nuts.
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