Just For Feet (FEET) Message Board

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Non-Tech : Just For Feet (FEET)

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To: Walter High who wrote (279)	8/5/1997 9:53:00 AM
From: Scott Finchler	of 750

Walter, I basically agree with you, but my conclusion and consequently my forecast for the next few years is a little different. The same store sales are low because the overall market of retail footwear has been slow. FEET seems to be holding its own there. The new store sales have always been their strong point and last quarter showed pretty good numbers, I think. You have a good point that they can't just keep opening up new stores and expect that to carry them forever. At some point they'll saturate their own market and have to close down some stores. That's a typical cycle in retail chains that grow too fast. One thing to keep in mind though is that they have not yet started moving north. I'm in the Northeast and there's nothing up here besides the typical mall stores (Foot Locker, Athlete's Foot). There is a Sneaker Stadium, which seems to be the North's version of FEET, but I'm anxious to see what happens when FEET comes north. I don't think we'll see much price movement when the earnings come out next week. Like you said they'd have to be stellar to move the price up. I'm not expecting it. So I think I'm going to sell calls one more time, maybe 22.50's, and then sell out if/when they expire. Just my $0.02. -Scott

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