Well, I haven't posted here in a long time. I took a beating a long time ago and took the losses against strong gains. This really is not a very good company from most marketing and merchandising points of view but I believe this can be a buy around 9-10. There is a little pop in the stock at this level if you can wait. A lot of work is required as the upscale discounters squueze from the bottom and speciality atores and catalogs squeeze from the top. Not everyone is interested in over priced market goods as they can buy the market goods from Walmart cheaper. The better goods are more interesting at say Target.
Buffett does not make many mistakes and if he waits long enough 30 months or so he could be even. He has this kind of horizon I would guess. No problems with financial health here but the difficulty with market share erosian is just not over by a long shot.
The TV advertising will not fix the real problem which is low end product at premium prices.
I totally agree, No matter where you buy it or how much you pay, junk is junk and I can't imagine a home furnished with the stock from PIR. My investment advisor suggested we buy PIR and like buffet he is usually right - butI believe he's wrong on this company. Thankfully, we have lots of winners and I'm afraid this will never be one of them.