Hey swampdude, yes nothing has changed one iota. The only thing that changed was the fact that it didn't have that surprise moment. In regards to the Lane sale and the deal with the shares, that is still a mystery for two big reasons but at least one we will know about shortly if anyone other than the company bought the shares they have 10 days to file a 13G saying the bought them. I misspoke when saying 2 days, that is for a 13D which is a activist position, I got them turned round.
From invetopedia....."When an individual acquires beneficial ownership of a 5% to 20% stake of a particular stock, that individual must file either Schedule 13D or 13G within 10 days of the acquisition."
Now if the company bought them they don't have to say they did and did not have to mention them or file in the 10Q that they bought them, the only time they have to file that the bought them and make that publicly known is in the 10Q for the period they bought the shares.
The 10Q that was just released/filed yesterday is for the period ending the first week of August and the transaction happened in September. So if no 13G is filed by next one can only assume the company got the shares. In my personal opinion they did, my reason for thinking this is if it were any other entity they would have filed by now a week after but maybe not. One thing for certain they have o file by next Thursday 10 working days after, it may be 10 days but I believe the "withing 10 days" is working days, Mon-Fri.
You could also ask the question, which I did to myself, why then would the company not make a note in the filing that it would be in the following 10Q and speak of it on the CC and the ER. My only thought to that is, they do not want to signal they did as they would like to buy more stock and would like to do so under $1. If they did say the did buy shares and wanted to buy some more since their cash position being what it has built up to 7X the current market cap.
The company has a stock repurchase plan in place where that was initially $200 million? or a little more, but, they have repurchased stock a couple years ago and now it is at $181 million dollars. For a company in this position with the hedge funds have pushed their price down to a point where it is so undervalued within the market the easiest course of action to solve this problem is to quietly get a firm/trading desk to start buying the stock for them and will give an order to purchase X amount of shares/$ value.
It is not only the easiest way to alleviate the problem, it is the most prudent and business wise method of alleviating the issue. Some may ask why don't they say they are, well the only reasons a company would PR the fact they are, are two. The first is that the board had recently voted to implement a share repurchase program and the must do so. Or they company is in dire straights and needs to pump their stock up. There is no other reason to do so, when a company repurchases shares they want them as cheap as they can buy them and their investors want them to buy them as cheap as possible, don't use up more of the companies funds than needed to get any job done, we pay you to save money not waste money in all things including the repurchasing of shares.
The sale of Lane Bryant I don't know, maybe an agreement wasn't made yet, maybe it is still in a negotiation mode, maybe not. I do not know. I think what one may infer will become clearer after next week when the time for the purchaser of the 17.5 million shares must file if it indeed was not the company. The only other reason I can think of that Golden Capital would sell the shares is if they were part of a deal with another firm for something else and these shares at a discount were a part of it. I don't know, but, we do know if that was the case we will know by next week if not the company now holds those shares in my opinion as no one can buy that block of shares and not file except Ascena that we do no 100%.
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