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To: melinda abplanalp who wrote (34874)	8/13/1999 6:36:00 PM
From: Ish	Respond to of 71178

<<Retail stocks are falling due to worry about interest rates. eom>> We know that, gadzooks. What's going up next? Enquiring minds....

To: melinda abplanalp who wrote (34874)	8/13/1999 6:38:00 PM
From: Gauguin	Read Replies (2) \| Respond to of 71178

What do you think of K-Mart? I mean, as a stock? I mean, that's probably obvious what I meant. I always hated K-Mart, because I hated that blue light special thing so BAD. I mean, I would get volatile. In spite of the fact they had nothing I wanted, I still seemed to wind up there; wandering like the Jews. But the last couple years I've maybe mellowed? Or they have? And I bought a broom, some shorts, a 6.00 watch, and some bedding plants on sale. Know what I mean? They had to pay out some leases this quarter, but otherwise their earnings rocketed. And might not be as influenced by rates. Maybe I need to get off my high folutin high-tech horse, and bow down, crawl, to K-Mart. I am so, well, humble now, or humiliated, it dawned on me today that dollars made off K-Mart are dollars.

To: melinda abplanalp who wrote (34874)	8/13/1999 7:53:00 PM
From: jbe	Read Replies (1) \| Respond to of 71178

Interest rates had nothing to do with ANF's price decline today, because almost all of the other retail stocks had a GREAT day. ANF is sort of the Dell of its sector. Its valuation ratios are high (except for price/free cashflow, which I consider the most important), but at the same time its sales and eps growth are double, sometimes even triple the rate for the industry as a whole. ROE is 78%!! But the high p/e probably makes it more vulnerable to minor shocks. IMO, anyway. Also, 95% owned by institutions. I never like that. Makes the price too volatile.