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Pacific Sunwear of California Inc. Message Board

longtimefollower 42 posts  |  Last Activity: Aug 30, 2014 12:55 PM Member since: May 12, 2000
  • longtimefollower by longtimefollower Jun 12, 2014 9:27 AM Flag

    The conference call is about that pending announcement, i would presume.

    Manu is already talking about his firing on the web.

  • Reply to

    Canslimmers WELCOME !

    by smaycs4 Jun 5, 2014 1:01 PM
    longtimefollower longtimefollower Jun 5, 2014 2:24 PM Flag

    You're just as sleazy as you indignantly accuse me of being. You talk up your book.

    I reinitiated a short position, a few weeks back, and continue to add. If you read the last conference call transcript, it is pretty clear that the current quarter is going to have what Rouleau sedulously refers to as "lumps and bumps."

    I believe the inside buying by him and the chairman are pulling the wool over the market's eyes, and are setting up for a major disappointment upon the next earnings release.

    This stock is FULLY PRICED for any reqsonable prospects of a turnaround now. $1 in EPS is a 20% ROE, and I think it is doubtful they will achieve more than that, at best. Slap a 15-18 multiple on that and you got a $15-18 stock. Even if they do $1.50 in EPS, if you slap a 15 multiple on that, it's $22.50.

    The EVIDENCE suggests that the additional sales volume is NOT coming through, with the repositioned merchandising. They are getting more traffic, but a LOWER average ticket. That means the lower initial markups are a double edged sword, and they are giving away margin, as they are getting nominallly more overall volume. The bulls will argue that the consumer needs time to "rediscover" the "new" TUES....and that is possible....but i would certainly say, as far as the Street is concerned, that with the stock in nosebleed territory now, it is do or die time for Christmas.

    Sentiment: Sell

PSUN
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