Thanks for the comments, BAM.
<<Even though Wall Street is compulsive about margins, I've not been terribly concerned about short-term GM percentages per se for ONSL.>>
Fortunately, no one else has yet either.
<< Much more important are the dynamics of its overall business model. Here, we consider factors like inventory turns, fee-based income, cost structures, customer persistency (repeat buying), product category leadership, brand development, traffic growth, software technology, global initiatives, and the like.>>
Agreed, not to mention buy-out-possibility premium.
DELL? Hmmmm, GM >20%, 6 turns a quarter, etc. The margins won't get there ever unless they change the biz model (again), but the turns is another matter- Heck, there won't be anything to turn if they go further toward the atCost model.
Anaxagoras |
