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Microcap & Penny Stocks : Ames Department Stores (AMES)
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To: Hopefull who wrote (584)9/10/1997 6:19:00 AM
From: Arthur Tang   of 1911
 
Thank you, hopeful.

There is an item that you did not mention which is the bad habits of AMES management to close 8-12 stores each years right after year end. The closing fees and expenses cost the company the losses. If they continue to remodel the store with merchandises rather than close stores and remodel the store with brick and mortar, each quarter will have earnings. Brick and mortar only cost money; do not make money.

When cashflow is better each year, they do not need the tax savings from stores closing. Jacky Mason said" when they made $9 million, the government still owes them money." was only a joke.
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