If anybody can pull this off, it's Federated and it's Terry Lundgren and his leadership team.
More Quotes from Neil Stern:
An attractive aspect of this for them is that Albertson's owned a lot of the land under their stores. But there could be multiple reasons for buying these stores, including generating cash flow, the value of the real estate or to spin them off to another buyer.Neil Stern
This is a company that came from Rochester, N.Y., ... It's not like they came from New York City or some sophisticated place. A lot of their stores are in middle-of-the-road places. In the past five or six years, they've realized if they can get a combination of density -- a lot of people -- and income, that that's where they shine.
Neil Stern
The volume is there, but the chain stores have to adapt their practices.
Neil Stern
All the merchandise in Five Below is under 5, whether it's toys, sporting goods, novelty items or accessories, ... This is a retail concept that can potentially grow very, very fast.
Neil Stern
Sears is a store that is designed for suburbia. They sell a lot of things like major appliances, barbecues and power tools that intrinsically go to people with bigger houses and garages and room to put this stuff.
Neil Stern
Financially, it's not a bad quarter. The concern from a retail perspective is that top-line sales number. It's not where you want to be as an ongoing, viable retailer. ... Long-term, you don't want to be losing customers.
Neil Stern
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