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Non-Tech : GUCCI (GUC) EXPLOSIVE GROWTH!
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To: Candle stick who wrote (7)5/6/1997 10:31:00 PM
From: Student   of 40
 
What do you think of Gucci here around $66? Already long but considering July calls. Q1 sales due at the end of the month, and I suspect a stock split it likely. Management already indicated that a substantial dividend boost is probable given last year's strong results. Current dividend was announced late last May. Although concerns surrounding Saks' earnings shortfall may have hurt the stock, I believe that Saks' issues are unrelated (outlet stores, Folio catalog and mid-level womens apparel). Unlike Saks, Gucci has a strong presence in Europe and Asia, which appears to still be quite strong. Therefore, I think a case can be made for a move to $78-82 in the next six weeks based on 23-25x 1997 earnings of $3.30, which you point out that management has endorsed.
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