Word: wedbush
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Dates: during 2000-2009
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...then lowered it back to $78 last Saturday. Best Buy has insisted that it will match its competitors' prices, so with Walmart acting so aggressively, the consumer will always win. "Walmart doesn't care if it makes a lot of money on electronics," says Michael Pachter, an analyst at Wedbush Morgan Securities. "They'll make margins on other stuff in the store." (See the top 10 toy crazes...
...Although the First Lady has sparked retail sales for her chosen brands, it's too early to anoint her a savior. "Michelle Obama hasn't done enough to significantly change the financial performance of J. Crew and Talbots," says Betty Chen, retail analyst at Wedbush Morgan Securities. J. Crew's same-store sales fell 13% in the fourth quarter of 2008. The company lost $13.5 million, compared with a $25 million profit in the fourth quarter of 2007. Talbots has updated its merchandise to fit its repositioning as a younger company. According to Chen, however, the company is too indebted...
...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...
...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 consumer or someone who is looking for a treat? That's why the brand has had difficulty." Responds new CEO James White, an ex-Safeway executive who took over Jamba eight weeks ago: "From a historical perspective, that...
...first three quarters of fiscal 2008. "It's a huge deal," says Marshal Cohen, retail analyst for the NPD Group, of the Inaugural exposure. "This is something you get once in a lifetime. J. Crew will take this and run with it." Betty Chen, an equity analyst at Wedbush Morgan Securities, predicts an immediate bump in J. Crew's children's clothing sales. She points to Michelle Obama's late-October appearance on the Tonight Show with Jay Leno. On the heels of news reports that Sarah Palin hoarded a $150,000 wardrobe budget, Leno jokingly asked Michelle...