I think it is going to get one more bashing, Dec same store sales will come in below projected. Remember 40% of this company's business is done in the 4 qt, most between Thanksgiving and Christmas if they projected 10% increase I wonder what they planned internally to make 10%, this will all be excess inventory and markdowns. On the positive side thye work on the highest margins in the industry so markdowns still come in with nice margins. What scares me is the apparel which is lower margins and as I said above higher sales numbers, how did this distort the numbers is the unknown we never had before. Basically
with the margins they have, its hard for them to screw up too bad , this is what I love about the company! We just have to wait for them to regroup again. They need to fix the Icing Concept as these were all in better malls, having another Claire's store next to a Neiman Marcus
just doesn't make sense not the Claire's customer shopping that mall.
Bryon asked if I was out, I owned the stock since the 80's bought in at 3 7/8 sold at 22.00, shorted it down to 9 sold it at 10.50, bought into 10.50-13.00 and held through two splits until the CEO sold in Nov
At times I've owned up to 15,000 shares.
Didn't short this time bought back in at 18.50, 17.5/8, 15 7/8, 14 1/2
and bailed out at 12 7/8, I owned 5000 shares on the way down, so even though I thought I knew everything about this stock, I got it handed to me. When it settles down I will be a buyer after the bounce. Your 10 is a pre split 20, usually the price went to 15 or 16 pre split before it turned around. This is a gut feeling, i'am not a techy, There are a lot of people who trade this stock, I've met them at the annual meetings, your right when the time comes this will jump,
ifffff the unknowns are answered.
My sons call stocks, adult Nintendo Games, they're right except the stakes are real!
Regards
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