REX Stores (RSC): The next BEST BUY? Message Board

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Non-Tech : REX Stores (RSC): The next BEST BUY?

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To: Kevin Michael who wrote ()	1/6/2000 11:01:00 PM
From: kendall harmon	of 24

RSC decimated today and nary a comment on the thread. Looks like an overreaction to me. <<Dayton, Ohio, Jan. 6 (Bloomberg) -- Rex Stores Corp. shares fell 49 percent after the retailer said same-store sales rose just 1 percent in November and December because of lower prices and sales for older products. The shares fell 15 to 15 7/8 in trading of 3.84 million, more than 32 times the three-month daily average. It had the second-biggest percentage decline in U.S. markets. The electronics and appliance retailer said strong holiday sales of video-disk players and TVs with screens of 35 inches or more couldn't make up for declining demand for older, analog equipment, such as 20-inch TVs and video-cassette recorders. Dayton, Ohio-based Rex, which has 239 stores in 35 states, said it plans to focus more on digital products including satellite systems and camcorders.>>

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