MYCC is cheap enough to buy again. selling at 4.8x cash flow and 7x EBITDA of $235MM. Interest covered 3.3 x with EBITDA. There is $675 of floating rate debt but if short rates rise 2 full percentage points, it only costs them $11 million annually. Buy at $11.20
Love GPS bought it today. Cheaper than JWN. JWN with earnings down has $1.2B of EBITDA so valued at 8.3x EBITDA. Still too high given no strategy and weak online sales. GPS is 4.8x EBITDA with 30% down earnings. It also has better BS as you note.
5.1% yield and 3.8x EBITDA. 20% of float has turned over to new owners. The institution are about out. They sell at any price. Those of us buying stock will be well rewarded. Retail sales were weak for everyone not just GAP.