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Non-Tech : Bombay (BBA): Time for a run up?
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To: wallstreetbull who wrote (111)4/10/1998 8:05:00 PM
From: David R. Schaller   of 202
 
Sam, like you I think the company has turned the corner. A year or two ago, BBA would have jumped on the most recent sales gains. The market is now much more skeptical about Bombay. I have ridden two runups in the past two years. Both times I thought I might have pulled out too early... only to find the stock retreating on soft figures later on. It will probably take more than one or two good months to convince the unconvinced that this is for real.

Hidden in the sales figures are the germs of what may yield a much more profitable company. By closing a net 17 stores (4%) they have reduced their operating costs substantially. It may be that the first quarter (which is normally a loser) could be close to break even. Value Line has BBA losing about $.05/sh in each of the first three quarters. Any reversal of that pattern would, I think, be seen as significant.

Liking what I see anyway, Dave
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