Repositioned retailer trading at less than 3x cash flow with tailwinds, a solid balance sheet, and improved executive team. Equity potentially mis-priced.
Excellent report. Thank you for sharing it. I've visited several Houston stores the past week. I am amazed by the demographic. These are people who truly enjoy shopping. My guess is half the customers carry Costco cards too. With fresh inventory returning regularly, their customer base will likely return to regular numbers because treasure hunting provides a better dopamine hit than clicking on Amazon links does. The lack of full inventory during BK may result in one more sub-par quarterly report, but the store help I talked to said that business was back to normal and shipments are coming in again.
Excellent report. Thank you for sharing it. I've visited several Houston stores the past week. I am amazed by the demographic. These are people who truly enjoy shopping. My guess is half the customers carry Costco cards too. With fresh inventory returning regularly, their customer base will likely return to regular numbers because treasure hunting provides a better dopamine hit than clicking on Amazon links does. The lack of full inventory during BK may result in one more sub-par quarterly report, but the store help I talked to said that business was back to normal and shipments are coming in again.
Any update on this one? Breathtaking decline from the peak, but I guess the rolling over of consumer spending really hurt.