Evans is a retailer of luxury fur apparel and related items. The company sells from its own stores as well as through leased space in major department stores, primarily in the eastern United States.
The past 3 quarters have shown increased revenues from acquisitions and higher same store sales due to trends in the fur apparel industry. Third quarter revenues (ended November '97) were up 23% over the prior year. The fourth quarter is historically the strongest.
Though the stock presently trades at $1.06, revenue per share is $17.68 and book value is $2.79 per share. Earnings have been weak due to store closings in '96 and lack of availablity of furs at affordable prices in certain locations.
Is this a mink operation at muskrat prices? (sorry!) |
