This is huge. The annualized savings are on the high end of what I would have expected. They are sticking with Golden Gate...for now.http://finance.yahoo.com/news/zale-announces-significant-improvements-capital-200500954.html$17 million in annualized savings gets them that much closer to GAAP profitability.I can't believe this thing isn't up after hours more. The only reason is because today was a weak market day. The refi means there is EVERY reason to expect continued improvement from the operations. (Management is no doubt sharing internal data with the lenders, post the most recently reported quarter.)This is a $4.00-5.00 stock in the next 1-10 weeks. Risk has been DRAMATICALLY reduced. Make no mistake: That justifies a MATERIALLY higher stock price.
GREAT CALL AGAIN LTF!!!
Really proud of long-time follower's orward-looking prediction of this eventuality saving $17 million in ZLC annual interest costs starting August 1, 2012
It's not my prediction...it's the company's!
Still paying 11% to GG and its non-callable for a year with fees afterward.Is this really the best they could do ?Are they running the company for us or for GG ?
You go right ahead and look that gift horse in the mouth, if you want to.The balance of the GG debt was reduced from $140 M to $80 M. And you're crying.Suggesting that this was done to "favor" Golden Gate is outrageous, conspiracy theory claptrap. Pure hokum.