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   Non-TechBFCI - Braun's Fashions


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To: J. Lawson who wrote (66)11/6/1997 1:37:00 PM
From: J. Lawson
   of 88
 
>>>>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."

jl

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To: J. Lawson who wrote (67)11/27/1997 11:10:00 PM
From: J. Lawson
   of 88
 
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???

jl

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To: J. Lawson who wrote (68)12/3/1997 1:59:00 PM
From: J. Lawson
   of 88
 
>>>NEW ANALYST COVERAGE<<<

J.C. BRAFORD starts coverage of Braun's with a Strong Buy rating.

current quote = 11 by 11.25 volume = 228,000+

jl

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To: J. Lawson who wrote (69)12/3/1997 5:57:00 PM
From: J. Lawson
   of 88
 
>>>some selected items from the J.C. Bradford report:<<<

earnings estimate 3rd Q .46
earnings estimate 4th Q .22
FYE 2/98 estimate .92

fye 2/99 estimate 1.10

>>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.

jl

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To: J. Lawson who wrote (70)12/4/1997 9:08:00 AM
From: J. Lawson
   of 88
 
>>>NOVEMBER SALES<<<<<

Braun's november same-store-sales up +14%

3Q same-store-sales up +6%

jl

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To: J. Lawson who wrote (71)12/9/1997 5:57:00 PM
From: J. Lawson
   of 88
 
>>>>3rd Q. EARNINGS<<<<<
i understand that the 3rd Q earnings are scheduled to be released next tuesday, december 16th.........let's hope there is an improvement in the margins........

jl

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To: J. Lawson who wrote (72)12/17/1997 9:11:00 AM
From: J. Lawson
   of 88
 
>>>3rd Q. NET = .50 CENTS<<<<

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.....

jl

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To: J. Lawson who wrote (73)12/17/1997 9:12:00 AM
From: Ajay
   of 88
 
do you got a number for the CC? Would like to listen also. Thanks

Ajay

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To: Ajay who wrote (74)12/17/1997 1:22:00 PM
From: J. Lawson
   of 88
 
>>>>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.

jl

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To: J. Lawson who wrote (75)12/30/1997 7:21:00 PM
From: J. Lawson
   of 88
 
>>>>GOOD DECEMBER<<<<
i expect good december sales numbers to be reported out by braun's next week. they will be reporting their december #'s for the 4-week period ending last saturday (12/27) early next week. i believe maybe on tuesday. this has not been a pretty picture the past 10 days. today was encouraging though. maybe some leakage of the good news??

jl

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