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"priced in" in retail is art rather than science, esp. for marginally profitable concepts. i will note 0.4x EV/sales used to be reserved for stressed retailers, not for a semi legit brand like ANF. Several non-profitable/much more flaky apparel retailers are now trading at higher multiples, and the only difference is positive SSS.

As for no turn in FY '16, he might be right, but who really knows. only thing i do know is this stock will have a 4 handle if/when they post positive SSS.

my worry is new mgmt will come in and kitchen sink everything and rebase price points, which is still pretty lofty at 60%+ gross margin. or one could view it as plenty of fat to cut. anyone who's been to the HQ knows it probably isn't that hard to cut some cost.

if HOTT can be taken out at 0.8x EV/sales, RUE at over 1x, one can always dream, right?
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