I don't hold any PIR, nor am I short, but I've
been watching and waiting. Here is what I
A company that has flat out failed to change with
the times, and as a result, has captured none of the
economic boom spending of the last several years in this
sector. Go into a PIR store and take a look around.
You've got a bunch of wicker, and a whole lot of
mass-manufactured garbage. There is nothing in a PIR store that
distinguishes it. People only need so many Papa-san (sp?)
Now take a look at other firms in the PIR
space. Cost Plus has done a great job of updating their
look and adjusting to consumer trends. Their wine shop
is top notch, their housewares are current, and
they've hired a number of folks away from other firms to
get a consistent inflow of fresh ideas.
examples: Crate and Barrel added an upscale, and highly
successful, furniture line. Pottery Barn added a children's
catalog that cannot buy inventory fast enough. Even mass
retailers like Home Depot have figured out that people just
have a lot of money these days. Take a look at the
appliances and fixtures they're selling.
all that said, PIR could still be a good gamble at 7.
It might go to zero, but you're only going to lose
$7 per share. A lot of options cost more than that.
And with sales dismal this year, a fresh look in the
future could produce some great comp numbers and a
higher stock price.
But personally, I think your
money is better off in Urban Outfitters (URBN).
The following is a message posted by the idiot,
funnyman, on 4/12/99. On that day, PIR closed at 7
"PIR's CFO specultes about earning for FY99 and FY00.
The CFO skipped over the bad news about the last
quarter of FY98. Why would the CFO talk about the future
without having mentioned the results of the last quarter
of FY98. I'll tell you why. The last quarter of FY98
resulted in a loss. A loss!Wait and see if I'm not right.
You should conclude that the CFO is talking about the
future because the recent past was lousy. Wishful
thinking about FY99 and FY00 won't change the fact that
PIR has been sinking because some folks got early
word from insiders about the last quarter of FY98.
When PIR finally admits the poor results for the last
quarter, PIR will plummet again. Get out now!For your own
good, sell PIR before the CFO publicly states the
results of the last quarter of FY98. PIR will be letting
out the bad news, real soon!"
Of course, as we
know, PIR reported record earnings of $.27 for the
final quarter of FY 98, up 23% from the same quarter a
year earlier. Anyone who reads his garbage, and is new
to this board, needs to be reminded of his past
This should be good news. PIR has a lot of new
plans, new type of store and internet site. I hope they
will discuss this. We need some hot talk for the
future. I hope they don't screw up this opportunity. THE
STOCK IS TOO LOW!!!
When I was in high school with Funnyman, he was
living with his grandpa. Funnyman was a flag
with the dancerette squad at Pocahontas High
One day his grandpa went to the store to buy a
container of nondairy creamer and never returned.
since then, they say, on the weekends, Funnyman
creeps out at night and goes into his garden to
pier one rose, and gently bends the stem, and cradles
the rose in his arms and snorts the yellow
pollen from its stamen. The bees are always pissed off.
The only pop at .26 will come in a can. Have we
sunk this far. A whisper number that is only one cent
above the expected #. 27 will not get us to 9-10. 28
may get this thing to 9. Good luck everyone!