Bradlees Inc. (OTC-BB:BRLYQ, formerly NYSE:BLE) is a regional department store with a big presence in the New England area. In 1996 they filed for chapter 11 bankruptcy and gained notoriety as one of the year's biggest losers on the NYSE. I have followed their decline from the mid teens down to today's levels and watched with interest as it bottomed out around .10, bounced a little to .35, then settled into the high .20s.
I have been a regular customer of Bradlees for most of my life, and have seen the condition and stocking levels of the stores change with the financial climate. I recently got back into this stock after being away from it for over a year. The reason for my renewed interest is based on my recent experiences with the stores in my area.
Of particular note:
1. I have found their stocking levels to be back to "normal" (as opposed to many stocked-out items in the months following the bankruptcy announcement).
2. I see they have mounted (and in my area stores, completed) an effort to "standardize" the stores with a more user-friendly floor layout.
3. I am seeing less and less mechandise in the "clearance" aisles and racks, and in general, am finding the stores to be cleaner and more well organized.
4. It appears they have recently switched their weekly flyer delivery from the Saturday paper to the Sunday paper perhaps indicating a stonger financial position or a willingness to commit the advertising funds (speculation).
And probably most importantly, when visiting the stores just after the holiday season, I noticed very few people in the "returns" line while there was still significant traffic moving through the registers. This compares to my experience a year ago where the return lines were backed up almost to the front door, and the register traffic was insignificant.
I have started this thread as a place for those with an interest in this company, whether pro or con, to discuss their views. All information is welcome.
-ROO |
