BFCI reported Q1 (May) sales were up 17% from year ago. That's an acceleration from Q4's 15% growth.
Same store sales growth rate also accelerating: Q1 up 9%, 11% in April and May, vs 3-4% in Q4.
It appears about 25% of add'l revenues can hit operating line (assuming no major markdowns or expenses) judging from Q4 numbers. So it looks like extra $4M in Q1 sales (already pre-announced) may drop $1M to op line, and assuming 40% of that hits bottom line after other expenses and taxes, we may see Q1 $0.31 instead of $0.25 estimate.
That would be 24% above estimate, and up 41% from year ago, after Q4's 54% EPS growth (excluding one-time charge last year).
Overall, we belong at a much higher multiple of earnings than 10, like maybe 15.
BFCI is now a value AND growth stock. We belong at $20 NOW, which is still only 13 times FY00 (Feb) EPS(e) of $1.60+ (my estimate), and still below current sales per share as of Q1 $25.
Get it while you can, because June 17 is earnings day, and $13+ will be history. |
