I knew their appearance in yahoo news was worthless, but it is really spam: today they post about UFPT SECOND quarter earnings - I think only because UFPT was active today and had a big move.
How do you know she was not fired? Also, what % of Fossil sales is due to Skagen? I thought your post of Sept 25 was very good, objective.
I don't know if Amazon reduced styles stocked, but currently of 10 styles just 1 is deeply discounted and 6 are selling at list price.
buy, I imagine ancient peoples had the same belief in the power of their gods that you have in the power of the shorts, and the same tendency to attribute what seems unexplainable to the gods (shorts). I notice short interest has been very stable since the end of June.
After being out of the stock, I bought some today based on valuation, but presenters really were mostly pessimistic (realistic?). They acknowledged that they are in a slow growth business, although Western has done well, and of course they have hopes for Creative Rec. They hope to build up D to C for better margins, which could work - sales are 12 million, and growing well they say. One positive about Creative Rec: they hired one of the original founders, who was the creative person. They seem to acknowledge that getting back to peak sales for the brand is unrealistic, at least not for a good while, as brand had benefited from a lot of celebrity wearers, and was in a lot more doors. Another positive: their Taiwan supplier is moving a lot of production to Viet Nam, so they may benefit from lower costs. On the other hand, there was another recall in May - you have to wonder about their quality control. Also, there is more private brand competition (I think it was Cabella's and another retailer they mentioned). With construction employment going up, while are work boots a very slow grower?
On another board someone says RCKY is discounting heavily. I went to web site, and there is some truth in this for select boots, but I don't know how this compares to other years.
Fab, how do you interpret the "unfavorable feedback": is it about their business, or specifically about RCKY?
Mostly Q&A and well worth listening to. Presenter very sharp, but facing headwinds. They have little exposure to auto production, and since they have little exposure to contractors, they don't benefit from growth in construction. Hurt of course by drop in oil prices and its impact on industries they serve (no mention of benefit of lower fuel cost). Only shorter term hopes for growth are Europe (e.g. purchase of Cromwell) and doing better in mid-tier, where they are going toward lower cost/lower pricing model (mentioned in June presentation) and "focusing more".
I think that is the reason stock is down pre-market (yahoo, 8:49) - most people expect a big beat. Eps was a big beat, but I found sales a bit disappointing with increased driving, low gas prices. Retail was expected not to be good due to lack of inventory (guidance given last release).
ACU pipeline averages around 5 months, and Target announced closings on Jan 15. I suppose with quick action they might have cancelled orders to avoid that part of inventory build up due to Target. I believe they would allow an important customer like Target to stretch out its deliveries if Target wanted to.
Mike, your post seems well informed. Wouldn't you expect Westcott to be fighting secular decline as everyone, including some students, uses less paper and more technology?
If I am reading the form 4 right, he could have waited until 2021 to exercise the option. Since there is no dividend, that would tell me he plans to sell the shares, but I don't know why he is waiting.
West, I am surprised at you. While it is always possible RCKY may be sold, there would be no need to amend the rights plan in a friendly sale, so the change has to be for corporate governance. This speculation is something to talk about I guess.