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Gold/Mining/Energy : EATON'S IPO (JUNE 2ND)
ETN 383.12-1.2%Oct 30 3:59 PM EDT
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To: Link Lady who wrote (23)3/3/1999 1:29:00 PM
From: Serge Collins   of 68
 
Wendy: I think many Eaton's stores have opened up bargain basements. The one I shop at has a basement full of bargains (and some are quite good), and that can be a shock to the senses for people who are accustomed to thinking of Eaton's as a high quality store. They still sell quality clothing, but I think they are trying to appeal to more average shoppers as well. Some of the lines they carry are close to Wal-Mart status, but times have changed and Eaton's is trying to adapt to this new era. Of course the big change has been the refocus on clothes and the move away from household items. They're simply not the same retailer as they were, the general merchandise theme has been abandoned to Sears, who pretty well have it all to themselves now. (By the way, Sears customer service is absolutely abysmal)

The company is far from being out of the woods and much needs to be done. Barring a takeover (which is still possible, albeit unlikely) this company can go either way in the next year. There was a report in the Globe last week about one finance company cutting off the company because of certain fears about being paid. I wouldn't be surprised to see CCAA again, but I sure hope they can pull it off. Anyone thinking of putting money on Eaton's right now should do so with speculative money, and not bet big, as you could end up losing it all.
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