Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Retail Ventures
So what: Since DSW is Retail Ventures' only operating investment and the companies will soon be merging, this move is really just a copycat of DSW. But since DSW reported earnings that crushed estimates, it's no wonder shares in both companies are rocketing higher today.
Now what: First quarter earnings per share of $0.85 beat estimates by $0.10 and are the main driver behind the news today. Retailers have been struggling lately, but DSW and Foot Locker
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