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I agree with Jim about the "cooked books". I just came back from Nebraska which had experienced heavy storms and I can tell you that shopping was not the primary concern. Retailers are affected by weather - as far as credibility, I haven't come to a conclusion on it yet.
The facts are that they have turned things around operationally and that once the shoppers return, there should be a pickup of sales and then the stock. REMEMBER, if they only do $1 for the year, you're still talking about an 8 P/E! They probably will come in at what the old estimates were.
>>>>OCTOBER SALES<<<< same-store-sales for october; increase 2%. year-to-date, same-store-sales are up 12%
FWIW: comments in the press release by Nick Cook, chairman/CEO: "Weather will affect our sales from time to time, but we view the impact in October to be temporary." "Our fundamentals remain strong and our propsects for the future are excellent."
I THINK IT'S ABOUT TIME TO START GETTING EXCITED ABOUT.. BFCI.. AGAIN....November sales should be out late next week....Don't be surprised if Braun's comes in close to meeting the original #'s for the Q.....I think Nick Cook is regretting his comments made October 31st....the shame here will be for the company to come thru, but the street once burned will be slow to come back and support this company as before....
HAPPY SHOPPING!!!!!!!!!!!!TOMORROW IS THE BIGGEST SELLING DAY OF THE YEAR......WILL YOU BE OUT THERE BUYING???
>>after sluggish start, Q3 sales rebounding robustly with good potential for positive EPS surprise. >>solid sales momentum should continue into Q4. >>stock sells at dramatic valuation discount to the industry average despite equivalent if not better slaes and earnings monentum.
>>Braun's valuation of 10.5x this fye EPS is sharply out of sync with the current industry average of 23.7x (the average of 40 specialty apparel retailers). The company's small market capitalizaton, under $50 million, and its relatively recent escape from Chapter 11 are probably the key issues. The company's balance sheet is solid, however, and its current sales momentum certainly would put it in the top half of the industry average. Moreover, our expectation of another 18% EPS gain in 1998 would put it among the upper one-third in this segment. We believe the solid comparable same-store gain in november and a positive EPS surprise for Q3 could produce a quick 25-30% price spike. we recommend aggressive purchase of the stock at current levels.
ps. J.C. Bradford & Co. makes a market in this security.
i plan on sitting in on conference call this a.m., and will have more info later.....appears 3rd Q came out ok.....but, company is noting that 4th Q comparisons will be going up against exceptionally strong performances in this Q last year.....hopefully, the conf. call will have positive overtones.....