Published: October 17, 2013
At $58.88/share, WWW shares today trade at 21x 2013 consensus EPS and 17x 2014 consensus EPS estimates. A long investment in WWW shares present an asymmetric risk/reward profile whereby I see an opportunity for compelling returns and minimal risk of capital over a 3 year holding period. I expect ...
Published: May 08, 2013
A private equity buyer could take Croc’s private at ~8.5x EBITDA, with modest leverage. Including off-balance sheet operating leases, the lease adjusted leverage is only 2x today, that could support at least an additional 4x. The PE firm would need to bring retail expertise in order to help execu...
Published: May 30, 2012
Deckers shares have declined 32% in 2012 as an unusually warm winter negatively impacted boot category sales (consumers postponed boot purchases) and rising sheepskin costs pressured margins. However, Sheepskin costs recently declined 35% from the peak prices and a growing sheep flock in Australi...
Published: May 30, 2012
Deckers shares have declined 32% in 2012 as an unusually warm winter negatively impacted boot category sales (consumers postponed boot purchases) and rising sheepskin costs pressured margins. However, Sheepskin costs recently declined 35% from the peak prices and a growing sheep flock in Australi...
Published: September 11, 2012
<em>(The following is an abbreviated pitch pulled from the SumZero community)</em>
Source: Eden Chen
Firm: Lightmark Capital
Type: Hedge Fund
Location: Los Angeles, CA
Recommendation: Long
Recent Price: $68.66
Target Price: $95.00
Timeframe: 6 Months to 1 Year
Quick Thesis
At curr...