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Non-Tech : Just For Feet (FEET) -- Ignore unavailable to you. Want to Upgrade?

To: Don Dorsey who wrote (464)	12/29/1997 1:24:00 PM
From: Walter High	Read Replies (1) \| Respond to of 750

Don: I believe FEET itself projects that the viable limit to its stores is about 300-400 in the U.S. From what I have read of the literature FEET puts out, management does not believe there are a lot of locations above the snow line where the concept is viable. It wants to focus on areas where people wear sneakers all year around. I happen to live in the Raleigh/Durham/Chapel Hill region of North Carolina which is an absolutely booming area in terms of growth. Not only that, it has both UNC and Duke to promote athletics among the kids. Yet FEET management is not ready to expand here yet because they don't feel the proper combination of population density and acceptable locations are available. If they don't want to do it here, they are being pretty selective. They also have yet to hit Charlotte, another major metropolitan area in this state. I think the purchase of the two mall-based chains is FEET's stab at getting into the smaller markets. So far, the mall-based idea hasn't been a big winner. They have to grow same store sales, or the stock will suffer. People buy stocks without dividends because management is supposed to use the capital to expand aggressively. FEET blew a large capital investment on the smaller stores (at least so far it seems blown). FEET needs to prove it has expenses under control after those dubious purchases. Walter High Walter High