There's an old saying that intones "when you can't explain it bamboozle them with bullshit." Smell anything during the conference call? The real world bottom line is that someone has to make something(or buy it) and then sell it at a profit. FBN is not doing either one of these things well. Ask the folks at Rooms To Go just how much they need domestic mfgrs. They are whipping these guys at their own game, though in a different price niche. The theory is the same however. Just, for example, how personal is a chewing gum purchase? And, how daunting is the price? The man at the top is not in tune with dealers and people who buy his goods. If this doesn't improve, the walk is long and the pier short.
yes their debt iis going down because this company is in a LIQUIDATION mode. Inventories drop, A?R drop, etc. It is a giant GOB sale. Positive cash flow is easy when you are going out of business. Yes, FBN will make it for another 6-9 months while LZB & BSET will go earlier. This whole industry is gone
It's already started. Due to market conditions..blah blah blah...FBN is doing all the right things...blah blah blah...Strategic plan...blah blah blah...plenty of cash on hand...blah blah blah. The lunacy defies belief!
Things are getting better at FBN.They don't have much debt and the debt is getting lower every quarter.This will be your leader in the furniture industry when the economy picks up because they will be debt free.Good job management for making the right moves.The stock should take off from here.