Published: November 20, 2015
Simply put, Macy’s owned real estate is worth at least $26bn, whereas the Company’s enterprise value is currently $24bn; this implies that the Macy’s retail operation, which would generate over $600m of pro forma free cash flow (after factoring in increased rent, etc.) is worth negative $2bn. Thi...
Published: June 05, 2015
SumZero asked Daniel Osowsky, long-time SumZero member and founder of Santa Monica based Osowsky Capital, to discuss his recent investment into retail giant Bed Bath and Beyond (BBBY:US). Since Osowsky posted his long recommendation on SumZero in late 2014, the stock has appreciated a meaningful ...
Published: November 21, 2013
Pier 1 Imports Inc missed 2Q13 earnings due to what appear to be transitory execution issues of a lack of marketing emphasis on value during a very promotional period and failure to adequately display newness due to an overemphasis on outdoor furniture, all during the final period of peak investm...
Published: March 21, 2013
BBBY is still growing, albeit at lower rates, maintaining superb margins to other retail competitors with seasoned management developed in-house and most importantly, generating a massive amount of free cash flow. It also boasts a remarkable track record of sound capital deployment with high retu...