Sterne Agee analyst Sam Poser has lowered his sales and EPS estimates for Genesco because the second quarter is looking like a bit of a stinker. But the top-rated researcher says the Nashville-based retailer (Ticker: GCO) is in prime position to take advantage of the popularity of boots. That's why he's leaving his price target at $36, an upside of almost 40 percent from Wednesday's close. Separately Wednesday, C.L. King & Associates analyst Scott Krasik started formally covering Genesco with an 'accumulate' rating.
Aug 26, 2010 7:15 AM
Joseph Parkhill is a fan of the Goodlettsville-based retailer, which he says has the right mix of in-store growth pushes and broader initiatives.
”Overall they have a real estate relocation program which is adding 3% to sales on its own. On top of that they’ve been adding more merchandise to their stores and re-merchandising more categories within their stores. And they have square footage growth of about 5%."Shares of Dollar General (Ticker: DG) are down a few points in the past month but are still up more than 20 percent year to date.
Aug 25, 2010 8:24 AM
Local operators partner with Core on latest addition to Werthan complex overhaul
Aug 24, 2010 1:19 PM
Former Huddle House boss to lead seafood chain
Aug 24, 2010 6:45 AM
One of Midtown's magnets tweaks its seating area, happy hour options and menu choices. Also: TSU's incubator helps launch a sweet venture [From our print edition featured in Monday's City Paper]
Aug 22, 2010 10:44 AM
Jim Wright, CEO of Tractor Supply, says that — unlike Goldman Sachs analyst Matthew Fassler — his team expects no ill effects from the recent runup in the prices of wheat. Plus, he tells Dow Jones Newswires, a number of the Brentwood-based company's prime customers are actually going to have to more to spend because of pricey crops.
However, Wright said wheat isn't a big component in the company's feed, instead naming corn, oil and scrap steel as the commodities that mainly affect its business. "We don't see any downside from inflation in wheat prices and maybe some upside from the economic benefit of high wheat prices in the rural counties that we serve," he said.Oh, by the way: Since Fassler's downgrade, Tractor Supply (Ticker: TSCO) has outperformed the Dow by more than 2 percentage points.
Aug 19, 2010 2:45 PM
Kohlberg Kravis Roberts and Goldman Sachs, the two private-equity titans behind the 2007 buyout and 2009 re-flotation of Dollar General, trimmed their stakes in the retailer as its shares rose 7 percent during the second quarter. Goldman sold about 6.5 million shares in the spring now and owns 17.2 percent of Goodlettsville-based Dollar General, down from 19.1 percent at the end of March. KKR and some of the smaller partners in the Buck Holdings ownership group sold more than 23 million Dollar General shares during the quarter, shrinking their stake to 62 percent from about 69 percent. Look for similar reports from the Wall Street giants next quarter: Despite giving up a little ground lately, Dollar General shares (Ticker: DG) are still up about 40 percent from the November IPO price.
Aug 19, 2010 10:26 AM
Former Academy of Country Music top new vocalist winner Rodney Atkins has teamed up with Cracker Barrel's record label arm to release a collection of — you know the formula — his best-known stuff and some newer songs. SEE ALSO: Cracker Barrel hits the right note
Aug 19, 2010 7:05 AM
Toys 'R' Us Express will this Friday open the doors to a new store at the Prime Outlets center off Interstate 40 in Lebanon. The 4,000-square-foot location will become the latest addition to a series of tenant wins at the outlet mall that includes some flood-displaced stores from Opry Mills.
Aug 18, 2010 2:30 PM
Jim Royal is full of contempt for Kohlberg Kravis Roberts' work on Dollar General, saying the private-equity titan's 2007 buyout, subsequent turnaround and last year's IPO was a good example of its "ability to extract exorbitant sums of cash from companies in a perfectly legal way." He ends his screed by pointing out Dollar General's lofty valuation (Ticker: DG) and offers some potential red flags that could put a dent in those metrics.
Aug 17, 2010 10:22 AM