BFCI - Braun's Fashions Message Board

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Non-Tech : BFCI - Braun's Fashions

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To: DRL who wrote (61)	10/31/1997 9:16:00 AM
From: J. Lawson	Read Replies (1) of 88

>>>>>WHOOPS<<<<< COMPANY HAS JUST LOST SOME INTEGRITY..... or actually CEO Nick Cook has lost a lot of his CREDITABILITY. today Braun's announces that it doesn't expect to meet analyst expectations for the 3rd Q. ending November 29th and the fiscal year ending february 28th. due to softer than expected sales. they expect october same-store-sales to be similar to the 1% gain posted in september. in a press release, the company said demand for fall and winter clothing has been reduced industrywide by unusually warm weather for six of the past seven weeks in its primary midwestern markets. sales were also hurt by premature, heavy snows in several of its other operating states over this past weekend. management also noted that as a result, the retail environment has become highly promotional, putting pressure on gross margins. in early october, CEO Cook had assured analysts that he was comfortable with estimates, this also during the time he was selling his entire position of company stock. GO FIGURE. sorry to have to make this report, but there has been a creditability situation occur which was not an issue before. jl

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