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J. Alexander's Corp. Message Board

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  • bsoren29 bsoren29 Oct 11, 2011 2:37 PM Flag

    A bit surprised that JAX has held up as well as it has

    JAX has held up well and appears to be very undervalued by the market (considering their owned RE and sales), but their earnings are very disappointing. I am concerned that they have not been able to reduce their operating expenses (or obtain better leverage from improving sales). With only a single digit profit margin before G&A, it is very hard for them to earn a reasonable profit and then when you consider their significant capital investment in each location it gets worse.

    Any chance that JAX can convert a failed restaurant into a profitable J Alexander’s location and therefore not spend as much capital on opening each location? How about them buying/merging with another small operator?

    Regarding being sold – if the company ever received a serious offer would not the Board have to consider the offer, therefore Mr. Stout can not prevent the company from being sold. What happens when Mr. Stout retires?

    Finally I remain a little surprised that E. Townes Duncan remains on the Board even though he has sold a lot of stock over the past few years.

 

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