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Non-Tech : Sunglass Hut RAYS- Will it ever breakout?
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To: Gary who wrote (717)12/5/1997 1:53:00 PM
From: marc chatman  Read Replies (1) of 971
 
Gary, I wouldn't agree that RAYS is doing the little things it needs to do. Actually, those are pretty big things -- closing down stores and restructuring. The impression I've gotten from the recent numbers is that the store closures are going slowly, and there has been virtually no reduction in the cost structure (sg&a). Hauslein could have completed two restructurings by now. I'm holding not because I have any confidence in the management or the company at this point, but because barring a disaster, $6 seems to be a hard floor, and the general movement of the markets over time should carry this stock up a couple of points at some point in '98. So why sell if I can get another 30%? I wouldn't put another dime in, though.
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