Nomura Securities Retail Weekend Reading: Turkey Day Trivia - A Few Interesting Questions (and Answers)
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Price: $54.11 -0.18%
Rating Summary:
20 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
20 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ANF Now!
Nomura Securities Retail Weekend Reading: Turkey Day Trivia - A Few Interesting Questions (and Answers) by Paul Lejuez
1) What was the last year Gap Brand achieved a positive comp? 2004 – This was the year they repositioned the brand, transitioning away from the teen customer to focus more on the 20-30 year old. Seemed like a good idea at the time, but hard to say that was a successful move as it hasn’t seen a positive comp since.
2) Which company once parted ways with its COO because he wanted to move too quickly with int’l expansion (hint: it was in 2005)? Abercrombie & Fitch (NYSE: ANF) – Bob Singer, previously CFO of Gucci, was President and COO at ANF. The primary reason he and CEO Mike Jeffries parted ways was because Singer wanted to expand overseas faster than Jeffries was comfortable. One point of contention was Japan, where Jeffries was not ready to go because of cultural and language differences. Turns out Jeffries was correct to be concerned, as ANF’s two stores in Japan (A&F flagships in Tokyo and Fukuoka) have been huge disappointments.
3) Which company has repurchased shares representing the highest percentage of its current market cap over the past five years (2007-2011YTD)? Gap (NYSE: GPS) (has repurchased 69% of its current market cap over the past 5 years), then Aeropostole (NYSE: ARO) (63%).
4) Which retailers had the strongest and weakest Black Friday comp last year? ANF was the strongest at 25%+ on Black Friday. Pacific Sunwear (Nasdaq: PSUN) was the weakest at down 2%. PSUN was also the only retailer in our universe that had negative comps on that day.
5) Tiffany’s (NYSE: TIF) NYC 5th Ave. flagship store does the sales volume of approximately how many of its branch stores? Approximately 22. This year, we project the 5th Ave flagship store to achieve $315MM in sales, compared to the average U.S. branch store of $14MM. And 315/14 = 22.5. For perspective, TIF only has 87 branch stores.
6) Which two retailers in our universe achieved sales productivity in each of the first three quarters of 2011 that were above the levels achieved in each of the first three quarters 2007? Ross Store (Nasdaq: ROST) and TJ Cos (NYSE: TJX). Both Limited (NYSE: LTD) and Macy's (NYSE: M) were very close.
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1) What was the last year Gap Brand achieved a positive comp? 2004 – This was the year they repositioned the brand, transitioning away from the teen customer to focus more on the 20-30 year old. Seemed like a good idea at the time, but hard to say that was a successful move as it hasn’t seen a positive comp since.
2) Which company once parted ways with its COO because he wanted to move too quickly with int’l expansion (hint: it was in 2005)? Abercrombie & Fitch (NYSE: ANF) – Bob Singer, previously CFO of Gucci, was President and COO at ANF. The primary reason he and CEO Mike Jeffries parted ways was because Singer wanted to expand overseas faster than Jeffries was comfortable. One point of contention was Japan, where Jeffries was not ready to go because of cultural and language differences. Turns out Jeffries was correct to be concerned, as ANF’s two stores in Japan (A&F flagships in Tokyo and Fukuoka) have been huge disappointments.
3) Which company has repurchased shares representing the highest percentage of its current market cap over the past five years (2007-2011YTD)? Gap (NYSE: GPS) (has repurchased 69% of its current market cap over the past 5 years), then Aeropostole (NYSE: ARO) (63%).
4) Which retailers had the strongest and weakest Black Friday comp last year? ANF was the strongest at 25%+ on Black Friday. Pacific Sunwear (Nasdaq: PSUN) was the weakest at down 2%. PSUN was also the only retailer in our universe that had negative comps on that day.
5) Tiffany’s (NYSE: TIF) NYC 5th Ave. flagship store does the sales volume of approximately how many of its branch stores? Approximately 22. This year, we project the 5th Ave flagship store to achieve $315MM in sales, compared to the average U.S. branch store of $14MM. And 315/14 = 22.5. For perspective, TIF only has 87 branch stores.
6) Which two retailers in our universe achieved sales productivity in each of the first three quarters of 2011 that were above the levels achieved in each of the first three quarters 2007? Ross Store (Nasdaq: ROST) and TJ Cos (NYSE: TJX). Both Limited (NYSE: LTD) and Macy's (NYSE: M) were very close.
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