B. Riley FBR analyst Susan Anderson believes the 2% pullback in shares of Carter's (CRI) provides an additional buying opportunity heading into earnings. The analyst also expects "another robust quarter" of sales for Buy-rated Steven Madden (SHOO) on the strong retail and wholesale accessories growth from Q1. In addition, Anderson continues to view Buy-rated Hanesbrands (HBI) as undervalued. On the negative side, she remains skeptical on Sell-rated Under Armour's (UAA) ability to deliver on its longer-term sales growth goals and reestablish its premium market positioning.

Bullish option flow detected in Under Armour Class A with 3,619 calls trading, 3x expected, and implied vol increasing almost 4 points to 54.85%. Jun-24 7.5 calls and Oct-24 10 calls are the most active options, with total volume in those strikes near 3,400 contracts. The Put/Call Ratio is 0.03. Earnings are expected on May 9th.