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To: Petz who wrote (426)	11/3/1997 10:51:00 AM
From: Scott Finchler	Read Replies (1) \| Respond to of 750

John, >> I'm definitely not a retail sales analysis, but... Well for someone who's not a retail sales analyst, that's a pretty thorough analysis. I actually followed most of your reasoning, except how did you come up with >> 0.024 = desired increase in Net Income, and >> gross margin of 42% I think we're likely to see a >> better than 1% comp store sales increase << because of the back-to-school business that'll be included in this past quarter. Even though sales weren't as good as they'd hoped (due to an apparent slowdown in the industry on the whole), it'll still boost sales (IMO). I don't know about the number of new stores, but are your calculations based on new stores in the last quarter? If so, I don't believe we've had five in the quarter. Either way there seems to be some action today. A lot of swings, but mostly in the right direction. Thanks for your analysis. -Scott

To: Petz who wrote (426)	11/4/1997 12:55:00 PM
From: Walter High	Read Replies (2) \| Respond to of 750

Petz: Well, the figures are out and we can only speculate. Your criteria were easily met, but I remain sceptical about how well earnings will do. There were five new stores, total revenue was up 19 million, and comp store sales were up 4%. According to your calculations, that would yield a nice upside surprise. The big IF, though, is expenses. We will have to wait another three weeks to see for sure. The market seems happy for the moment, however. Good luck to all. Walter High