I also observed that COBD gone out of control last couple of years. Coupled with lower sales, it is squeezing margin.
I have a feeling they are running the business too much like a financiers than a good operator. All the financial vitals are healthy at this point but it will be doomed if they are not focusing on the products and creating nice apparels that people wants to buy.
My survey results with some lady friends are Review is so boring and old school. Pepper is not inspiring either. Plus when I walked past their stores, I only see one or two people at best even during peak Christmas season. No want to buy any of their clothes.
Until they shutdown all those useless high cost shops and get their cost under control and also really focus on creating products that tickle the lady heart, they will not get anywhere with "strategic review". Re-arranging the pie is not going to make you rich if the pie is shrinking rapidly.
It is really not rocket science.
PGR Price at posting:
21.0¢ Sentiment: Sell Disclosure: Held
