Lehman Still Weighs in on Retail
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One of the things that dismayed us the most about Lehman Brothers' failings was the possibility that we would no longer get their great analyst reports on various public retail chains. Well, the firm is still churning them out. We got one on Friday about Dicks Sporting Goods, entitled "We Believe DKS Is Sporting the Goods." According to the report, Lehman has just STARTED coverage of the chain. They have plenty of good things to say about Dick's. The analysts expect square footage to grow there by 10% to 15% annually, they are bullish on its private brands and expect the chain to become a dominant brand in the sector. There is also this interesting tidbit: "Some industry sources have indicated to us that as many as 25 'mom and pop' sporting good stores have gone out of business in the last twelve months." Bad news about mom and pop stores aside, it's refreshing to hear that at least one major chain is doing well right now. We just wish the same could be said for Lehman and its peers in the financial sector.
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Ian,
What a delight to hear that anyone even gives a rip about what Lehman Bros. thinks at this point. What would drive them to even consider making any remarks towards retail successes or otherwise? You are a brave man not to have thwarted the report. All sarcasm aside... yes, I'm a tad bitter. I started quite early in my career in the real estate private and public markets and with 25 years experience under my belt I could see the rip and tide of the markets changing. I wasn't expecting a downturn like this in my life! 45 days ago I was laid off from a lucrative Retail Shopping Center Management position. The positive upswing is: that the minor set back in my lifestyle is giving me the opportunity to revise my spending habits. I'm not the tip of the iceberg by any means, but the down sliding in the current ecomony is going to reach further into the reserve wells of population and that unfortunately will have a prolonged impact on the financial and retail viability of the future. We appear to be entering a "greater depression". Atlanta, Ga.