Millegan
Sep 28, 4:43 PM
$SHOE had an ugly Q2.
Good.
That’s how interesting prices happen.
• No long-term debt
•
$118M cash
•
$13.6M securities
• 5%+ yield
• 14 years of dividend growth
• Below 60% of tangible book
Management is blowing out aged inventory and moving toward localized assortments.
The market is pricing the cleanup.
We’re looking at what comes after it.
Woodworth newsletter subscribers got this research Saturday. Now it’s public.
👟 Stepping Into Value with Shoe Station:
https://www.woodworth.fund/news/stepping-into-value-with-shoe-station
$SHOE $ZUMZ $ROST
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