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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (160594)4/17/2002 4:18:00 PM
From: reaper  Read Replies (3) of 436258
 
Tip, you're comparing apples and oranges here. Yeah, money came out of Dell. From a high of about 40x peak cycle cash flow to a mere 20-22x cash flow today. Kohl's has a long way to go before its multiple is anywhere near the lunacy of the all-tech-all-the-time market.

if you want to pick on a retailer go bug Sears (S). $17 billion market cap almost as high as Kohl's. cash flow is about $2.2 billion a year, but it is in DECLINE; it was $3.7 billion two years ago. they are spending over $1 billion a year on capex and NOT growing. they have almost $30 billion of credit card receivables (yeah, they'll get that money back <g>). they have a pension plan that is $700mm under-water. Sears is a credit card company that owns a bunch of retail storefronts as their method of acquiring receivables. and they've had the same sort of manic run that Kohl's has.

look, I've been begging members of this thread to not short Best Buy, Bed Bath, Williams Sonoma, Kohl's for over a year. while those stocks have certainly had their down months/quarters (which as you know i am NO good at calling) they're all at all-time highs. don't mess with good companies when there are SOOOOOOO many POS's out there.

Cheers
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