Dana Cohen
Dana Cohen
avenue believed breakup consider current fate fifth hinges likely outcome question remaining report suggest trends turnaround unlikely upside
The remaining question now, however, is the fate of the Saks Fifth Avenue division. We believed a breakup was the likely outcome for Saks and today's report confirms our expectation. However, current trends do not suggest much upside from current levels. Instead, upside to current valuation hinges on a turnaround at the Saks Fifth Avenue business, which we consider unlikely under current management.
activity business difficult foot issues locker mark potential puts question retailers starting year
After a year of very difficult business for Nike, there was a sense that the U.S. business was starting to see a turn. The Foot Locker issues and the potential escalation of promotional activity by the retailers puts a question mark on that.
continue indicate last less retailers specialty store visits week
Our store visits continue to indicate that most specialty retailers are less promotional than they were this week last year.