In terms of market dynamics, there are many hands in the market share grab. Wal-Mart, Target and department store chains like J.C. Penney and Kohl's will see incremental dollars coming into home furnishing as well. |
In the belief that this purveyor of authentic brands and unique styles will continue to deliver annual earnings growth of at least 30% helped by comp growth, new-store expansion, and operating margin gains, we reiterate our 'outperform' rating. |
It is clear to us that a sale of the company is likely to occur in 2006. With business having improved on the margin, we believe Jill shares could likely command a slight premium to Liz Claiborne's original $18 offer. |
Retailers may have struggled to clear through certain cold-weather seasonal items, perhaps resulting in deeper markdowns on those items. |
We think 'home' fundamentals are tied to product cycles and not the housing cycles. |
When you put a brand new flat-screen in your living room or bedroom, the old furniture becomes outdated. A lot of people are updating their furniture and decor to match the TV itself. We think is helping to fuel home furnishing sales. |