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First Trust ISE Glb Engnrg And Const ETF Message Board

  • cyberocket001 cyberocket001 Feb 7, 2003 11:52 AM Flag

    Fleming Prospects

    Losing $3-4 billion in Kmart business

    Lost $1 billion in business from other accounts the last 2 years.

    Current stores probably having same stores sales losses of 2-4% or more.

    Close 3-4 or more DC's

    Lost many of their best people over the last 2 years.

    Need to further reconcile their convenience store network since this is their only growing business

    Where an accountant. How many write offs have they taken over the last 5 years.

    No real profitabiltiy, just periodic profits from writing off assets constantly so that a couple of quarters of operating earnings can look mediocre.

    Lawsuits up the wazoo

    Minimal Target business, lost a ton of it to SV

    Albertsons - give it some time.

    Increase DC cost from low volume

    Less buying clout making them less competitive in getting major accounts

    Next claim to fame will be 2nd largest convenience store wholesaler

    Is $2 a share right price or $4

    I don't know but things definitely aren't going in the right direction.

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