When I wrote in late January that I thought Stage Stores (SSI)
was an undervalued retailer about which the Street was too bearish, I
didn't expect such a quick change in sentiment. The core retailing
environment has not gotten all that much better in the intervening time,
but the Street was very glad to hear that the company is moving on from
the Steele's off-price format. Stage Stores management hasn't revealed
the terms of the deal, but I believe the combination of weaker near-term
results and less capital needed to support the growth of Steele's do
improve the fair value a bit since late January.
Read more here:
Stage Stores Shifts Some Scenery
No comments:
Post a Comment