Deutsche Bank Note "Overwhelmingly Positive" Retail Checks on SodaStream (SODA)
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Price: $65.39 +0.58%
Rating Summary:
9 Buy, 3 Hold, 0 Sell
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Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Rating Summary:
9 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
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Deutsche Bank made positive comments SodaStream International (NASDAQ: SODA) today related to retail checks, although the firm is maintaining their Hold rating.
The firm comments, " We recently contacted several Sodastream retailers, including Bed Bath & Beyond, Williams Sonoma, Kohl’s, Sur La Table and Crate & Barrel. Feedback from retail reps was overwhelmingly positive, with strong sales trends cited in the vast majority (~90%) of the stores we contacted. The reps we spoke with were surprisingly enthusiastic to speak about the product, with many indicating that they also own machines. Several locations are regularly selling out of the machines and many sources indicated that sales have picked up recently with the summer season though didn't tail off much from the holidays. Returns are very rare across all of the retailers we contacted."
Deutsche Bank said the early read on canister exchanges, arguably more important, is decidedly positive, with all of the retailers indicating strong refill traffic and several expressing surprise at the level of exchange activity.
"One Bed Bath location has moved refill canisters from the back of the store to the customer service desk to accommodate the traffic, while another representative commented that it appears Sodastream is struggling to keep up with the refill cannister demand, noting that supply is sufficient, but the store often must call the company to request additional units," Deutsche Bank notes.
While most retail was positive, Deutsche Bank noted that one one retail representative went out of her way highlight a cheaper, competing product - the Twist ‘N Sparkle ($49.99 retail) from iSi. Deutsche Bank notes however that the the up-front cost advantage quickly evaporates, as the product is more costly to operate.
For more ratings news on SodaStream International click here and for the rating history of SodaStream International click here.
Shares of SodaStream International closed at $70.40 yesterday, with a 52 week range of $23.15-$71.80.
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The firm comments, " We recently contacted several Sodastream retailers, including Bed Bath & Beyond, Williams Sonoma, Kohl’s, Sur La Table and Crate & Barrel. Feedback from retail reps was overwhelmingly positive, with strong sales trends cited in the vast majority (~90%) of the stores we contacted. The reps we spoke with were surprisingly enthusiastic to speak about the product, with many indicating that they also own machines. Several locations are regularly selling out of the machines and many sources indicated that sales have picked up recently with the summer season though didn't tail off much from the holidays. Returns are very rare across all of the retailers we contacted."
Deutsche Bank said the early read on canister exchanges, arguably more important, is decidedly positive, with all of the retailers indicating strong refill traffic and several expressing surprise at the level of exchange activity.
"One Bed Bath location has moved refill canisters from the back of the store to the customer service desk to accommodate the traffic, while another representative commented that it appears Sodastream is struggling to keep up with the refill cannister demand, noting that supply is sufficient, but the store often must call the company to request additional units," Deutsche Bank notes.
While most retail was positive, Deutsche Bank noted that one one retail representative went out of her way highlight a cheaper, competing product - the Twist ‘N Sparkle ($49.99 retail) from iSi. Deutsche Bank notes however that the the up-front cost advantage quickly evaporates, as the product is more costly to operate.
For more ratings news on SodaStream International click here and for the rating history of SodaStream International click here.
Shares of SodaStream International closed at $70.40 yesterday, with a 52 week range of $23.15-$71.80.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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