Hills Stores (HDS)- 7th largest retail chain Message Board

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Non-Tech : Hills Stores (HDS)- 7th largest retail chain

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To: Mr. Jens Tingleff who wrote (138)	10/31/1998 8:11:00 AM
From: Bosco	Read Replies (1) of 201

G'day all - dear Jens, in a way, I agree with you. HDS is the classic case of "no one wants it when it is in the bargain bin." However, by no means knocking it - especially that now I am overweighing it in my portfolio - b.v. is a funny thing. Maybe we are right; maybe not. To make the worst case scenario, if its inventories are part of the book, it may not be able to depreciate them. In a way, inventories are always a problem with retail sector. Unless it is moving them quick enough for cash flow, we are stuck with some phantom value. Another possibility of phantom value is the computing system. I don't know the specific in HDS case, however. Of course, these are hypothetical cases. HDS is a decent size corporation, so it is hard to imagine its auditor would consciously let it get away. Still, remember the Moody's [or S&P's] rating of its prefers. HDS is paying a high interest. I think that is why cash flow is a much more important item people are watching [and rightly so.] It is thus imperative for HDS to increase sale and lower the COGS . best, Bosco

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