Classic. I knew most of these guys don't know what they are talking about.
Guy ADAMI: 27% short would usually scare me because of short covering but I think they might have gotten this one right(the shorts).
Guy buddy, they have been covering shares since last october(9 months straight). There sued to be 16.5M shares short, now 9 and counting.
As for Grasso, sheepskin view is good. But sheepskin doesn;t have to go down for this company to make more money, it just has to stop going up and biting into the bottom line. It would be nice if it went down as that is a bonus, but UGG PURE is being integrated and will start proving significant savings to the bottom line in 2014 and beyond.
Store growth of 140% over the next 29 months, 36 just this quarter, will be bringing the UGG brand to the consumer allowing the consumer to see more diverse products that outlet stores don't necessarily carry.
UGG PURE for those who listened to the call allow the company not only to start seeing cost savings from less relaince on sheepskin but as ANGEL MARTINEZ stated on the CC, it also allows the company to make better form fitting product.
Sheepskin is harder to manipulate and is somewhat more bulky. UGG PURE technology will allow the company to manipulate product to better hug the foot.
This is just footwear but this company offers avenues in hats, scarves, gloves, handbags, etc.
For 1.84B, to get such a popular brand while it is literally ramping up its biggest growth ever, with sotre count and new product; these are the things guys describe made them.
Fortune shines on those who see oppurtunity. I've been smelling it for almost two years now.