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Office Depot, Inc. Message Board

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  • b_zerkley b_zerkley Jul 19, 1999 3:15 PM Flag

    why did Fuente have to say "challenges"

    Last time I was in at 18 3/8 and out at 23 1/4.
    Great short term play on a great stock. But this
    time...management is hedging, and the quarters numbers seemed
    "stretched". It's not just Merrill, they only provided the
    flame for the fire, management's comments did the rest.
    I think it best to see how this test of the $18
    support progresses before you commit big. Just MHO. Good
    investing longs.

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    • While someone here has damned Fuente for
      mentioning second half issues, the thing to remember is that
      he might have been optimistic when he mentioned
      "challenges." The company only made quarterly projections when
      you exclude extraordinary items - so actually ODP
      really didn't meet expectations except through spin. The
      situation might be tougher than is now apparent to us
      smaller investors. Let's see where this dip bottoms and
      figure out whether it's time to get in again.

      • 2 Replies to BullTurnipSeed
      • <EOM>

      • David I. Fuente commented: "Our first quarter
        results reflect our continuing ability to generate
        sustainable, profitable growth. While our sales were somewhat
        softer than expected, margins remained strong throughout
        the quarter. As we move forward, we are excited about
        our opportunities in all areas of the business, and
        our outlook for the balance of 1999 continues to be
        healthy."

        I do have to disagree about ODP not meeting
        expectations. They did meet them. Analysts do not include
        one-time charges in their estimates. If you think they did
        not make Q2, then I guess you must also think they
        have missed the last three quarters also. They took
        charges in Q3, Q4, and Q1 for the Viking merger

    • the next couple of weeks. I'm waiting to buy from you there.

 
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