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Non-Tech : Boston Market (BOSTQ) -- Ignore unavailable to you. Want to Upgrade?

To: IN_GOD_I_TRUST who wrote (1146)	4/7/1998 9:10:00 PM
From: SeanS	Read Replies (1) \| Respond to of 1567

Sorry it took me so long to reply. I have been studying the ENBX recent quarter results and 10K. First the bad news. The co. is going to report losses in the short run due mostly to restructuring costs/write/offs. Also, it appears that all shareholder equity is made up of goodwill. The good news: Enbx has only a small fraction of the outstanding debt that BOST does. Also, the ENBX stores are doing almost as much in weekly sales as the much larger and expensive to operate BOST stores. I am not an accountant, but it appears to me that if you look at BOST and ENBX as separate entities, ENBX is a much better concept and investment. I am retired and travel quite a bit. I notice Boston Market stores as I pass through other cities and towns as well as the one near me in Sarasota. Except right at dinner time they usually appear to be nearly empty. On the other hand check out the Einstein Bros. Bagels stores. Much smaller than a BOST store. Selling products with low cost ingredients such as bagels and coffee. Always people lined up to buy the product. Merrill Lynch is predicting that ENBX stores will soon do 14,000 a week in sales per store. They are experiencing positive cash flow. Unlike BOST, they have completed their acquisition of their area developers. I don't know the future. Bost and ENBX could both end up in chapter 11. But, if I was a deep pocketed individual or food service company, I would bet on the success of ENBX way before that of BOST.