Word: digitization
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...this recession, there are struggling apparel retailers all across the country. Then there's Abercrombie & Fitch. The upscale teen retailer has suffered 10 straight months of double-digit same-store-sales declines. In the second quarter of 2009 alone, sales were down an eye-popping 30% across the company's three name outlets: the flagship Abercrombie brand, which has 567 stores; Hollister, a 520-store teen chain; and Ruehl, a 29-store chain for young adults that Abercrombie shut down in June. Abercrombie & Fitch lost $26.7 million, which includes $24.4 million in charges associated with the closing of Ruehl...
Many players believe there's opportunity now for similar triple-digit returns. "I think several hundred percent [return] is possible" if leverage is used, says Anton Schutz, portfolio manager of the Burnham Financial funds, which have been investing in the sector since last fall. However, he believes the biggest buying opportunities are still six to 12 months away. (See the top 10 scared stock traders...
...Henderson announced this week that the company's much anticipated Chevy Volt (half electric, half fossil fuel) is the undisputed winner in the miles-per-gallon race, claiming that under new EPA guidelines the Volt will hit 230 miles per gallon (city), the first car to ever earn triple-digit fuel efficiency. Not to be outdone, Nissan fired back a few days later to its Twitter base of fans that its just-announced all-electric Nissan Leaf would be rated at 367 m.p.g., also using EPA guidelines. (See the 50 worst cars of all time...
...Vegas has made its bet. This recession, it clearly believes, is just another business cycle. It will end, sooner rather than later, and the world will go right back to gambling on slot machines and real estate and tasting menus and double-digit corporate earnings. In fact, Wynn bet me $100, an amount I had to spend several minutes explaining to him, that the U.S.'s GDP growth will be positive by April 2011. In the meantime, he and the other people who run Vegas believe the deck will get reshuffled and new players will sit down at the table...
STEP TWO Call the number and recite or punch in the six-digit code that corresponds to the street you want...