>>>>CONFERCNCE CALL NOTES<<<<|
well, after seeing the dow jones story headline (Braun's Fashions Sees 4Q Comparisons Difficult), i was kinda nervous, but the headline was not accurate in the sense of that there are problems ahead....the facts are that last year's 4th Q was extremely good and Braun's acknowledges that they won't that good this year....also, last year had no tax cost impact, due to carryover losses....
>>company looks for mid-single digit sales growth going forward.
>>store count is 180; they will be closing 1 store in february.
>>no new stores until march.
>>sweaters, knits, trousers----are the best performing segments.
>>december on target to make projections.
>>they have an optimistic view of business going forward.
>>very comfortable with estimates for the 4th Q.
>>S.E. Asia; it's too early to tell the impact of cast benefits; but the company does buy in U.S. $.
>>CEO Cook stock sales were for diversation.
he had held stock 11 years.
he still has options on 96,000 shares.
the sell was dictated by company policy regarding the timing of sell; this was the window Cook had.
>>there were 10 analysts with questions.
>>Cook was called down for not doing a better job of communicating and disclosure of the press release today; ie, the way that dowjones presented the story with neagtive overtones; when in fact this was a very good Q.
>>company, as best as they could considering the limitations concerning forward-looking statements, does feel good about the business going forward. ....they have to do the obligatory CYA.
i won't get into any #'s here, just my initial observations of the CC.