I agree that estimates are finally "sand-bagged", but taking this catastrophe for them to finally learn is kind-of scarey! I listened to the call almost in its entirety! (had to leave the house/w my wife, to have a change of reality from this nightmare, during the question-and-answer session!), and I can't say I was impressed with Angel at all. Even the rest of management sounded tired and disillusioned. I also agree that "borrowing-money-to-buy-back-stock" is El Stupido! I see Uggs selling well, my wife relays the same at her retail location, but $200 is definitely the ceiling people are gong to pay (or they even should pay, imo, anything more is Co. greed and extortion!)
I owe Posner a retraction, he was right-on-the-money "in-the-know", with Decks discounting, inventory-build and soft-sales.
I don't know here...personally in "salvage-mode"...wondering at what price I can get some dignity and exit! It's clear the hay-day of growth is over, imo; And I'm not willing to stick-around years, waiting to see if their other stuff moves, especially with extreme global-warming!
This stock kind-of-sucks...yes it (the Co.) makes money, but its primary source of profit, is at the whim of young-ladies' fashion taste, which is about at reliable as the wind! Honestly, my wife kept telling me to buy this stock, and seeing its previous runs, and its then- current balance sheet, the CEO buying big at $46, and how it bounced so hard-and-nice off $40 x3-times, I felt that there was money to be made on a seasonal rise, but I never like the idea of a "long-term hold" here, for the reasons one can infer from this post!
God-Bless all longs, including myself, in recovering some funds!