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Non-Tech : Sunglass Hut RAYS- Will it ever breakout?
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To: Steven Angelil who wrote (24)6/19/1997 7:03:00 PM
From: The BayWatcher   of 971
 
Steve, while I would love for B&L to buy RAYS, I
noticed the RAYS Board has adopted anti-takeover
(poison pill) provsions. IMHO, this Board is not
at all responsive to shareholders. If they were
going to push Chadsey out (which I assume
happened), they should have done it before the
important summer quarter so that the new CEO could
get the company ready for summer. Despite obvious
problems in the past year, it looks like better
days are ahead. Even B&L said in their release
today that they expect improvement in 1998.

The earnings downgrade came from Robertson Stephens
after Rays announced May comparable sales; they
also cited lousy weather and poor sales in the
Northeast. I noticed today that by the time MIB
premieres, there will not be a lot of competition
from other movies. The only other movie that will
come out over the 4th of July week is Wild America.
By then, Batman and Speed 2 would have been out for
2-3 weeks respectively. If MIB is as hot as I
suspect it will be, this puppy will begin to heat
up and we may see 9-10 this Summer.

W/re: to my comments about the Rays founder and my
belief that Eye-X was his idea, I was wrong. The
bad news is that the guy who though up such a
stupid concept is still at RAYS. I'm beginning to
agree with you that Ziff would make a good CEO.
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