OK Not that anybody keep's score... But I told you start buying under $1.90 and sell when they fired the CEO. Both happened and it was an easy 30%+ pop.
I have been showing you the numbers here over and over and assured you there will not be a Buyout. Remember my post explaining the differnce between a Buyout and Selloff? Well, the selloff has begun.
I recently said that they will not be profitable again in fiscal 2013. Do you still dispute that claim? keep on ignoring the charges and write downs. The debt will strill be in excess of $6billion next year and what will the assets have been diminshed to?
This is ugly and getting uglier. And oh by the way, it's yet another in the long line of lies and failures by management. They were shopping themselves around and in the end decided they should CLOSE 60 stores? WOW just wow.
Geez, I wonder if those soon to be layed off workers will continue buying SVU when they roll over their now worthless 401k?
On a related note... I've always wanted a 30 foot sliding door freezer in my garage. Now I know where I can get one, real cheap!
Do you know how many stores they have?
1,102 traditional retail stores
»» 797 in-store pharmacies
• 1,332 hard-discount stores
»» 935 stores operated by licensee owners
• 2,700 independent locations serviced by our Independent Business segment
»» Primary supplier to approximately 1,900 stores
Yes I know how many store they have. 60 less than they had yesterday.
Another novice accountant / financial managment comment stating that it's nothing. Just like year after year of write downs meant nothing?
Think about this. 2,400 stores OK. Lose 60 is what 2.5% Hmmm. What's 2.5% of $35 billion? What's a typical grocery store generate a year - maybe $15million? What's that multiplied by 60 stores?
Forget about the revenues and the balance sheet impact... What about the employee? You think they feel closing 60 stores in nothing? How would you feel if you were working at the remaing stores? Safe? Confident? Or concerned? Desperate? Looking elsewhere? You think it stops at 60 stores? Moral will be demolished. Shrink will be up significantly as those ready to exit rob the places blind.