Sales growth actually decreased from last year's Q2. This was their seasonally strongest quarter, and instead of making a big splash, their sales declined. The company had given guidance last October of 10-12% annual revenue growth. Now, the company is in danger of reporting negative revenue growth for FY 2014. What in the world is going on here? If I wasn't cut off by the moderator, I would have asked some hardball questions on the conference call. I didn't even get a chance to join the queue before the moderator ended the Q&A session. Oh well. Maybe next time. If there is a next time. I noticed no questions were asked about the reverse split. Maybe that's off the table. I don't know. But their authority to do reverse split expires in October. They had a long enough time to pump up the stock price to minimize the split ratio, but the stock has just floundered all year. Too bad. We'll see how the stock reacts to this awful earnings report. If it doesn't tank, I think the bottom is in. Could be no sellers left cause they all abanded ship already. We'll see.
But the CC made it look worse than it really was!!!
Lonnie Should never work at a suicide hotline.
I almost want to say ,HE DID IT ON PURPOSE.
Maybe he loaned Nancy the money for her Purchase.
I agree on the Q @ A
I hope the Stonegate guy impressed his clients(or TALN)
As for me
He went into Idiot territory.
I was right with you (or behind you)
on the Q @ A (PUN INTENDED)
I did not sell but will make waves.
I own a .20 stock that is profitable
The FACTS presented by Lonnie WERE WRONG!!!
Retail (Clothing) are up yr over yr
Our 2nd and 3rd qtrs. are our best but over the last 10 yrs its nose to nose.
Last yr we had a BLOWOUT in the 2nd which hurt the 3rd
I have LEVI
I have VAN Huesen (Possible spelling error;I wear RL)
I have rev equal to LY BLOWOUT!!!
Mark Dyne should preview EVERY Presentation.
This was embarrassing !!!!!!!!!!!!!!!!
The actual numbers were NOT!
Mickey, I always enjoy reading your commentary. Very funny and accurate (suicide hotline, that was a good one). I agree, it seemed Lonnie was blaming the weakness on the whole sector scaling back in Q1. But wouldn't he have known this at the time of the previous conference call in May? He gave no indication back then of a slow down. And he said they feel the industry effects in real time, so he should have known back then. If he did sandbag on purpose, that would make sense since after the call he and Larry were each awarded 1 million options with a strike price at a price average over the previous 5 days from grant. So now they get cheap options, right on time. One bit of good news is that book value is increasing, cash is up and debt is down. So some moving parts are on track. If they can just steadily pay down the debt without doing anything stupid (like acquiring a company and blowing up the balance sheet) then the stock should find its footing. But with these guys you never know. Every time it seems things are on the right track, the rug gets pulled out from under them. Maybe it's the Forte curse.