I was being a tad bit conservative yes on the cash added, as I am unsure what the difference will be in the sales will be for Dress Barn during its close out of the 544 stores, their inventory was what $63 million and that is cost, so its a matter of how good did they do in liquidating.
They had up to that point done rather well and I still see the fact that the last 5 weeks were from Black Friday to New years with the after Xmas sales, I have to imagine that added to the price they got for the goods in the stores to some extant as it wasn't the normal its all got to go, it was it all has to go and you have droves of people shopping for Xmas.
No extra advertising, less deep discounts etc. We will just have to see, the lease obligations that the SEC makes companies list as long term debt for the 5444 stores will be wiped out too, I think many are just oblivious to the many facts. First quarter in already making $320 per share, next Q being holiday Q with 544 losing stores being liquidated takin away all that long term lease debt, and the biggie $63 million dollars that will just come in with no where to go back out to, no Dress Barn Leases payments, no restocking inventory for 544 stores, mean I think people are setting themselves up for an ass kicking.
Sometimes its just about common sense it really doesn't take a rocket scientist on a deal like this.
If one thinks about just a few things its like, there is nothing whatsoever to get excited about going/being short, not a thing. Quite the opposite.
We shall see.
Peace out.
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