Mark Rowen
Mark Rowen
active challenges company customer enormous high increases lifetime massive rates value
In our opinion, such massive increases in active customers, coupled with massive increases in lifetime value, will be enormous challenges for a company with such high rates of customer defection.
billion consumer firm hard high implicit product remaining rest segments toys understand value valued
In our view, the remaining $2.7 billion of firm value is an implicit valuation for the rest of the product categories. We find it hard to understand why segments such as consumer electronics and toys should be valued at such a high level.
although appears argue based believe cents cheap clearly closer ebay estimates value
Clearly we are getting closer to the day when we'll be able to value eBay on traditional price/earnings metrics and although we would not argue that eBay is cheap based on our full-year 2001 EPS estimates of 40 cents a share, we do believe that eBay appears exceedingly inexpensive based on our full-year 2002 EPS estimate of 78 cents a share.
amount anywhere believe company cost failed free generate lost near needed offers order pay profit revenue shipping
In theory, in order for free shipping offers to be successful, the company would have to generate enough incremental revenue and contribution profit to pay for the cost of the shipping promotion. However, we believe Amazon.com has consistently failed to generate anywhere near the amount of incremental revenue and profit needed to pay for the lost shipping fees.
balance grow improve lose money revenue shown
They've shown that they can grow revenue and lose a lot of money and they've shown that they can improve economics, but that slows revenue growth. They're going to have to find a balance to do both.
below difficult gm incentives market offering percent
They'll probably be below 30 percent for the month, ... Clearly, it's been more difficult than they expected, especially considering all the incentives GM has been offering to get market share.
best consumers love sites
They clearly, the two of them, have the best sites out there; consumers love going there and booking their own business,
hurdles leap model work
Their model has a lot of hurdles that they need to leap to get it to work.
additional alignment available believe benefits both calls either higher key lack online physical plan position possible product question sales stores toys
The higher out-of-stock position suggests that either Toys 'R' Us is not allocating additional product to its online store, or that sales at both the online and physical stores are significantly higher than plan and Toys 'R' Us does not have available inventory, ... We believe it calls into question one of the key benefits of the Amazon/Toys 'R' Us alliance, and suggests a possible lack of alignment between the partners.
best buy cheapest circuit compared desired discount experience found left prices product selection
Some of the cheapest prices we found were at Wal-Mart, but product selection and presentation of the televisions at the discount retailer left much to be desired when compared to our experience at Best Buy and Circuit City.
believe company contract earnings expected growth higher multiple negative percent range rates revenue share until
With 2001 revenue growth rates now expected to be in a range of 9 to 18 percent and earnings per share growth expected to be negative 12 to 33 percent, we believe Yahoo!'s price-earnings multiple will contract until the company is able to demonstrate significantly higher growth rates.