The additional cash on the balance sheet from the asset sales will put Kmart in a position to further reduce debt and possibly buyback more shares in a move that could boost share prices further, ... At the same time, the big cash position will enable management to look at an attractive range of choices, including the possibility at some point in the future of a major acquisition.
More Quotes from Richard Hastings:
To be concerned about the strength of consumer spending is wise. Wal-Mart as a barometer of consumer spending is significant. Consumer spending will start to moderate off of its hot pace in the second-half of the year.Richard Hastings
Management has been defending the brand. If we look at the last six years, it's become clear that they have made no progress.
Richard Hastings
Our recent visits to some stores indicate better controls over displays, clutter, and shelf appearance, necessary steps to stabilize store aesthetics in support of their apparel initiatives.
Richard Hastings
Consumers are benefiting from a combination of tax stimulus, new products, good apparel fashions and compelling prices.
Richard Hastings
We had a strong back-to-school season and discretionary spending on low-priced items has trended higher. These are good indications for Halloween, which typically sets the tone for the rest of the holiday shopping season.
Richard Hastings
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