Nice week for the Portfolio+. We were up 3% for the week, putting our year-to-date gains just under 20%, outpacing the S&P500 and boot-stomping our comparable consumer benchmarks. In particular, American Eagle led the charge, posting a 14% gain for the week after reporting a very nice earnings beat on the top and bottom line and guiding higher for the holiday quarter.
In today’s video, I talk about the stubborn disconnect between what companies say and how it’s reported. Having spent my career in both finance and media, I see these disconnects as a feature, not a bug. In fact, playing the divergence between the actual numbers being reported and what the audience wants to hear is how I make my living. With that context, let's take a look at the moves I made in the portfolio this week.
Accordingly, we executed several transactions this week. I'm selling Spotify, securing a 4% gain. The proceeds from this sale, along with the $10,000 in cash we had on hand, will be used to purchase shares of Aritzia and RealReal.
I'm upping my bet on the holidays. Aritzia has performed exceptionally well, up 100% since our initial discussion last January, and recently reported significant same-store sales growth. The company appears to have further growth potential, and we are formally adding it to Portfolio+.
RealReal is another name I’ve been sniffing at for a while. The online vintage jewelry company aligns with the trends I’m seeing among shoppers this year. With Real management hitting the conference circuit over the next two weeks, I think we could see another run in the stock, either now or when the company reports next month.
Have a great weekend! I’ll be back next week with another new feature, options trades with Sean, and hopefully more gains to report.
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