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Technology Stocks : ITURF Inc. ( NASDAQ:TURF ) -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (186)	4/16/1999 2:50:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 614

Too bad investors can't distinguish between the positives of TURF with its focus on young women from dELiAs troubles with it's young men's clothing line (SCREEEM!). According to a Bloomberg news piece yesterday, dELiAs is considering closing down some of its SCREEEM! retail shops. What all of this has to do with TURF is beyond me? In fact, in my last post, I extracted some information from a dELiAs news release (4/15) which highlights the growth of customers/buyers and the focus on TURF's internet channel as a "very compelling opportunity." In addition, the downdraft experienced by dELiAs stock price is a boon to TURF. Afterall, it's $10-13 million investment has not taken place yet: "Additionally, we intend to use $10.0 million of the net proceeds of this offering to purchase shares of common stock of our parent from our parent. In addition, if the underwriters exercise their option to purchase an additional 630,000 shares of Class A common stock, we intend to use 60% of the resulting net proceeds to purchase additional shares of our parent's common stock from our parent. We will purchase such shares from our parent at a price equal to the average closing price of our parent's common stock on the five preceding trading days." TURF will hold more dELiA*s stock at a much more attractive entry point. Isn't $21/share better than $37/share? Takes a lot of the "risk" out of the investment. That core holding will be a valuable asset as the years go by.