Word: periodic
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...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; it finally launched its own sales site in May (the brand had partnered with Amazon to move books...
Chukumba thinks Pier 1 has enough cash and a small enough debt load to weather this recession for a couple of years at best. "But if things get worse real fast or the recession lasts for even a longer period of time, I have to call Pier 1's viability into question," he says...
...company reported a net loss of $7 million in the third quarter of 2008, compared with earnings of $117 million in the same period in 2007. Still, the company insists that its liquidity remains intact. "We ended the third quarter with $395 million in cash and cash equivalents," says Office Depot spokesman Brian Levine. "While the fourth quarter is not yet closed, we believe that we did not burn cash. It is our intent that we will maintain our liquidity throughout 2009, even under our most conservative projections of the economic environment...
...sell discretionary items. It's an even worse time to sell very discretionary items. Do you really need that fruit smoothie? Apparently not: Jamba Juice, the fruit-drink chain, lost $108 million in the first 40 weeks of 2008, compared with a $36.7 million profit during the same period in 2007. Same-store sales dipped 7.2%. In December, Jamba stopped shipping ready-to-drink smoothies to grocery stores because of production difficulties. "They still don't know who their core customer is," says Brian Moore, an analyst at Wedbush Morgan. "They have to define that. Is it the health-conscious...
...accumulated all 15,012 names given to the boys born in one large state between 1987 and 1991. (To get the boys' names, the authors had to agree not to reveal the state's name.) The researchers developed an equation that gave the most popular name of the period, Michael, a score of 100. The name David got a 50. Ernest, Preston, Tyrell, Kareem, Malcolm, Alec were each given a 1. Kalist and Lee theorized that the boys with the lower-scoring names might commit more delinquent acts...