Thank you for your comment on Amazon.com. I didn't realize it was still that cheap. I apologize for my earlier comments. However, based on the feedback of my family and friends, I believe people still like to "handle the merchandise" before making a book purchase, and that going into the Chapters store is a bit of a social occassion. In regards to your comments about inactive stores, I live in the Toronto area, and both the Bloor Street store and the original store in Burlington are always packed. Which locations are you checking out? I am still bullish on Chapters, but everybody needs to be brought back to reality and given a shake to their tunnel vision.
However, from a valuation perspective, Chapters is cheaper than Borders and Barnes & Nobles. Maybe it should be lower, but I am betting that it isn't. Given the current market environment, I still believe it is one of the few true growth opportunities left on the TSE. |
