KeyBanc on Retailers: New York & Co (NWY) and Joe's Jeans (JOEZ) - Two to Watch
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Price: $3.50 --0%
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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KeyBanc on Retailers: New York & Co (NYSE: NWY) and Joe's Jeans (Nasdaq: JOEZ) - Two to Watch
Analyst, Edward Yruma, said, "Over the past few days, we have seen positive data points out of two of our underappreciated turnarounds in our coverage universe. First, at 0.3x 2012 EV/sales (compared to 1.0x EV/sales for the specialty retail peer group) New York & Company, Inc. (NWY-NYSE) under Greg Scott seems to be demonstrating greater operational focus, which is finally driving better results. Second, at 0.6x 2012 EV/sales (compared to 0.9x EV/sales for the apparel peer group) Joe's Jeans Inc. (JOEZ-NASDAQ) is capitalizing on the colored denim trend and its move to a more accessible price point. We stay sidelined on both stocks, for now, but find both incrementally positive."
Yruma names NWY as a favorite stock of inexpensive, turnaround stories. Joe's should continue to benefit from colored denim (55 colors). The KeyBanc analyst raises estimates on both. Meanwhile, he feels NWY has made the most progress, but notes Wet Seal (Nasdaq: WTSLA) and PacSun (Nasdaq: PSUN) are making progress (WTSLA still in discovery process and PSUN remains mired in its turnaround)
Analyst, Edward Yruma, said, "Over the past few days, we have seen positive data points out of two of our underappreciated turnarounds in our coverage universe. First, at 0.3x 2012 EV/sales (compared to 1.0x EV/sales for the specialty retail peer group) New York & Company, Inc. (NWY-NYSE) under Greg Scott seems to be demonstrating greater operational focus, which is finally driving better results. Second, at 0.6x 2012 EV/sales (compared to 0.9x EV/sales for the apparel peer group) Joe's Jeans Inc. (JOEZ-NASDAQ) is capitalizing on the colored denim trend and its move to a more accessible price point. We stay sidelined on both stocks, for now, but find both incrementally positive."
Yruma names NWY as a favorite stock of inexpensive, turnaround stories. Joe's should continue to benefit from colored denim (55 colors). The KeyBanc analyst raises estimates on both. Meanwhile, he feels NWY has made the most progress, but notes Wet Seal (Nasdaq: WTSLA) and PacSun (Nasdaq: PSUN) are making progress (WTSLA still in discovery process and PSUN remains mired in its turnaround)
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