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REX Stores is a retailer of consumer electronic products and appliances, operating mainly in small to medium sized markets. As of April 30, 1999 the company operated 228 stores in 35 states primarily in the Midwest and Southeast under the trade name "REX". The company's business strategy empasizes depth of selection within its key product categories. Brand name products are offered at everyday low prices combined with frequent special sales and promotions. RSC concentrates its stores in small and medium sized markets where it believes that by intorducing a high volume, low price merchandising concept, it can become a dominant retailer. RSC supports its merchandising strategy with extensive newspaper advertising in each of its local markets. Market cap of 153.5 million based on todays close of 20 1/8 and 7.62 million share outstanding; float of only 1 million; book value $15.35; current PE ratio of 14 on 1999 earnings of 1.46 (some due to a one time gain); sales last year of 416.7 million; 0 shares
short as of May 10, 1999 Recently started an on-line store which can be viewed at rexstore.com and started a business relationship with Amazon.com First quarter results should be out next week with EPS estimates of .16 . 3 brokers rate shares a strong buy and 1 a hold. Volume has picked up also this month-- a great sign! sources of this information are Yahoo Finance and Standard and Poors
Kevin Michael |
