Actually they call it Green Friday for whatever reason. We already bought some toys at Toys 'R' Us a few weeks ago. They have Home Depot toys that my oldest likes. Will likely buy more toys in a few weeks. Most of the things we want are not sold at Wal*Mart, although a few are, and they are a little cheaper.
Based on what I am hearing, Toys 'R' Us sales are tracking well below the same time last year. I believe that this information is reliable, although obviously it might be wrong. Even if sales are tracking below last year, people might just be procrastinating, and the stock may have already discounted a fourth quarter miss. That said, this type of bad news does not help short term sentiment for the stock, which plays into my belief that the upside will be capped at 11.25 with an outside chance at 12 (low probability in my opinion). The company is giving their mid-season update next week, and unless the information that I have is wrong or sales pick up dramatically next week, they won't have anything good to say. I think that the fear of more bad news will keep pressure on the stock. |
