Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: Arthur Tang who wrote (1827)	2/8/2001 11:10:58 AM
From: Arthur Tang	of 1911

People have been patient waiting for the year end results here. Same store down 8%. Good riddance! 32 stores closed in a few days from now, liquidating all the inventory of 32 stores themselves. 2001 revenue $3.9 billion is 3 percent better than 2000 with an extra week in the fiscal year. Inventory is less 18% than year 2000, reducing AMES borrowing by that amount. The future while it would be questionable, it will have to bear the store closing cost of about $1 million per store. So, I expect last year will have a small loss(it depends on when store closing charges will be posted in which quarter). There will be small number of store openings this year, to compensate for 32 stores closed. Total revenue however could be projected towards $5.0 billion based on the new way of doing business in the last quarter of year 2000($1.33 billion for the quarter). So, good luck management, keep up the good work. Keep the operations trim and proper, and AMES will prosper. It is all advertising and turn over. Limited upscale here we come again in the new inventory purchases.

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