which is one of my favorite apparel retailers whose shares are quoted 9 1/4 bid, offered at 9 1/2 in preopen market activity this morning. Here is this morning's news release:
Thursday March 4, 7:36 am Eastern Time Company Press Release Braun's Fashions Reports 8% Increase in February Same-store Sales Fourth Quarter Same-Store Sales Rise 4% Fiscal Year 1999 Same-Store Sales Increase 3% MINNEAPOLIS--(BUSINESS WIRE)--March 4, 1999-- Braun's Fashions Corporation (Nasdaq: BFCI - news) today reported that total sales for its four-week period ended February 27, 1999, rose to $6.2 million from $5.3 million last year. Total sales for the fourth quarter were $31.4 million compared to $27.3 million a year ago. For the year ended February 27, 1999, Braun's total sales were $110.1 million, up from $99.5 million for last year.
Same-store sales in February increased 8% and for the fourth quarter ended February 27, 1999, same-store sales increased 4%. Same-store sales increased 3% for the year.
As of February 27, 1999, Braun's operated 195 stores compared with 179 stores at February 28,1998.
BFCI trades with a PE ratio of 8, one of the lowest in Wall Street for an apparel retailer. BFCI shares peaked at 14 3/8 in 1998 when they announced their growth plans for this upcoming year (the year just ended).
I believe you will find the Prudential Analyst's name is Harry G. Katica. I did call my Prudential broker and have him read sections of the report to me. It was very bullish and since nothing in the report was any more or less what I already knew, I did not request a copy. I have already stated, on this board, many time in the passed that after 22 years of being a very successful private Company, (going back to their days as games and gadgets), ELBO... since going public has not yet mastered the art of public/investor relations. ELBO previous success as a private company was due largely to their ability to keep the competition quessing by never showing their hand. They have always been innovators and as such, needed to keep their business model and plans for future growth secret in order to gain the competitive edge that has made them the market leader they are today. However, in the world of the public company "no news" is always misconstrude to be "bad news". ELBO will learn this important lesson over time and begin to realize that investor confidence and stock value and market share are all linked. In the world of publicly traded Companys, it's not always the best Company that has the highest P/E, but sometimes the one that tells the best story. To capture the minds, hearts and investment dollars of the herd, ELBO will need to pay more attention to this fact moving forward. Did someone say earnings surprise? :-) Good Luck, RBL
please, please stop the spamming. Your credibility is hurt by it. The readers of this board are irritated by it. You should know this by now. We don't ask or expect you to spamm ELBO on other boards either. It makes ELBO look BAD!