67 WALL STREET, New York - September 11, 2013 - The Wall Street Transcript has just published its Retail Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Brick-And-Mortar Versus Online Retail Sales - Cautious Consumer Spending - Strong Secular Growth in E-Commerce - Competition From Big-Box Retailers
Companies include: Overstock.com Inc. (OSTK) and many others.
In the following excerpt from the Retail Report, the CEO of Overstock discusses the outlook for his company for investors:
...there was a point last year where we were trading at $5 and Amazon was at $300, and I was pretty confident we were going to make more money than they did, and we did; we made $15 million and they lost $19 million. But they were trading at about 800 times our valuation, I think, so that was bizarre. But according to value investing, what really matters is not absolute dollars earned; it's dollars of earning per share. And I suspect we are going to make more money per share this year than Amazon is, and I'm not sure that it's not a reasonable goal for us to keep our per-share earnings higher than Amazon.
It is going to be a great test of value investing. If you have one company trading at $300 and another company that's actually making more money per share trading at $30, or even as low as $5, will the market sustain such an spread? I'm curious to find out. But I'm noting that last year we made more money in an absolute sense than Amazon, and so of course we made more money per share, as we have 24 million shares outstanding and they have about half a billion shares. And I think we will make more GAAP earnings per share this year than Amazon does...
Dr. Patrick Michael Byrne
Chairman & CEO
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.