Inventory up 14% YoY and cash is hardly up. Could mean that company will have to take a write-off on obsolete inventory. Looks like they are juicing up near term profits this way. Buyer beware.
Store numbers is going to increase from 321 to 342 by year-end. A 7% increase should partially expain it.Besides, BTS and boots season should also entitle the needs to beef-up inventory.
So, 7% expansion + 6% comp + a few stores in closing process exactly answered your question.Nice try
I would like to point out that the increase in the number of stores resulted in a need for more inventory.
Sucks to be short doesn't it. Ouch! Thanks for covering after hours!
They are comping +6% Quarter to date. Inventory is clearly not an issue.