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...company's ill-fated $400 million purchase of women's apparel shop J. Jill in 2006 burdened its debt load. "What's hurting them more than anything is that they've got lots of debt on their balance sheet," says Betty Chen, a retail analyst at Wedbush Morgan Securities. Talbots has shuttered its men's, kids and U.K. businesses, and is shopping for a buyer for J. Jill. Good luck finding one in today's market. Earlier this month, investors received some encouragement when the company secured a $150 million credit line from three Japanese banks. In 2008 Talbots also...
...country's second largest book retailer is a grim tale. Even before the economic downturn, Borders didn't shine. "Their real estate was suboptimal in some markets, they were overexposed to music and movies, and they tried to go international, which didn't work," says David Schick, an analyst at Stifel, Nicolaus & Co. Then came the financial storm. Total sales dropped 11.7% during the nine-week holiday period that ended on Jan. 3, and sales at stores open for at least a year fell 14.4% during that time. In addition, the company was woefully late to the e-commerce game...
...been devastating to all home-furnishing retailers, but like Borders, Pier 1 wasn't performing well even before the collapse. "Merchandising was stale, they were relying too much on selling wicker furniture, the price points were probably too high and there was store saturation," says Anthony Chukumba, an equity analyst at FTN Midwest Securities Corp. (See pictures of Americans in their homes...
...governments to supply them with paper, pens and staplers - somewhat shields it from the more dire retail shocks. But the company is still in a dangerous spot. "With their leases and off-balance-sheet leverage, Office Depot's financial risk is undoubtedly high," says Stephen Chick, an equity analyst at Friedman, Billings, Ramsey...
These days, however, few people think the capital-purchase plan makes sense. Paul Miller, an analyst at Friedman Billings Ramsey who covers bank stocks, says the problem with it is that the government is buying preferred shares and not common stock. Miller says preferred equity does nothing to help out common shareholders. That's because holders of preferred shares can demand their money back before holders of common stock can. As a result, bank stocks continue to plummet. And no matter how much total capital a bank or any firm has, if its stock goes to zero...