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Tuesday Morning Corporation Message Board

  • smaycs4 smaycs4 Oct 30, 2013 4:11 PM Flag

    Postive same store sales of +9.1% is fantastic

    However, it didnt flow to the bottom line which is a concern.
    Why not ?

    They've got to get spending under control or something.

    No afterhours indication by the market.

    RCKY, on the other hand, disappointed. 39 cents versus 72 cents last year is a pretty big miss.

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    • Well, it's not "fantastic," if such sales are the result of more "blow out" discounts, to clear dead inventory....AND taking lower initial markups on new inventory....and not getting enough sales to fully "cover" those lower markups.

      In short, the company is selling more, but at lower margins. And that is not just the clearance blow outs. That is the new merchandise they are getting in.

      Do they have increased "traffic" because of all of the blowout merchandise....because people like the "fresher" assortment.....or is it because people love the cleanliness and the new cash registers, which Rouleau continues to hang his hat on, ad nauseum? None of the answers provide the reassurance that justifies at $14 stock price. Worse, if the inventory is now cleaner, WHY wasn't the average ticket up??

      I tried to short more after hours, but was not successful. I wouldn't be surprised to see "the sheep" initially take it up, on the headline 9%+ sss growth number....but I'm hoping it trades down hard, after the first 30 minutes or so of trading. Not counting on it, though, with all of Rouleau's "true believers" out in full force. Willing to hold this remaining short position as a "core holding," though, at this point.

      Sentiment: Strong Sell

 
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