2 Retail Stocks Hitting Record Highs After Earnings

DKS and ANF are soaring after their upbeat first-quarter reports

Deputy Editor
May 29, 2024 at 10:57 AM
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Retailers Dick's Sporting Goods Inc (NYSE:DKS) and Abercrombie & Fitch Co (NYSE:ANF) are in focus on Wall Street today, following their strong first-quarter earnings reports. Both companies announced better-than-expected results, with Dick's Sporting Goods raising its profit forecast on accelerating demand, while Abercrombie & Fitch lifted its sales growth forecast following its "best quarter ever." 

At last glance, DKS was up 15.5% at $225.20, earlier hitting a record peak of $228.36. Today's price action continues the stock's impressive history of positive post-earnings moves, and extends its March bull gap following its last report. Since the start of the year, the equity is up 53%. 

So far today, Dick's Sporting Goods stock has seen 12,000 calls and 8,247 puts exchanged, which is already triple its average daily options volume. The weekly 5/31 240-strike call is the most popular, where new positions are being opened. 

Abercrombie & Fitch stock is trading at record highs as well, last seen up 15.8% at $176.53, earlier as high as $180.67. The stock has been steadily moving higher for the last year, up 463.7% year over year and on track for its 10th monthly win in the last 12 months. 

So far, ANF has seen 14,000 calls and 18,000 puts cross the tape, which is already 3.7 times its average daily options volume. The weekly 5/31 170-strike put is the most active contract, with new positions being opened there. 

 

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