After listening to conference call I am truly amazed. How does O'Dell keep his job? They have increased payroll mainly due to incentives by about $1.8 million per quarter and getting sales decreases for the extra money spent. That's about 3.5 cents EPS per quarter or 14 cents a year.........they also have $2.8 million less in interest expense per quarter from reducing debt $95 million last year. That also is over 5 cents per quarter or 20 cents per year. These are no-brainer savings. If O'Dell and his idiots just did the same as last year they would drop another 20 cents per share to the bottom line.......just on interest savings. Take away the wasted incentives and that's 34 cents a year. I know guys and gals with 10th grade educations that could run a company better than this.
Oh yea, another mislead to investors. They bought back $1.2 million in stock from the approved $50 million. When asked about this they indicated they preferred spending money on new stores and remodels. At this rate it will only take them a little over 10 years to finish this share repurchase. What a joke. DaninFW
I just sold 10,000 @$6.65 and 10,000 at $6.68.....will sell the other 10,000 if support holds. Again, no logic. There was an article where the writer thought shorts may rush to cover today which may well be what's happening causing the squeeze they predicted. It may also be Gabelli averaging his cost and taking advantage of drop as well as trying to shore up the price. No doubt in my mind we will be down in a few days if not this evening. DaninFW