HART STORES INC. $1.20 (Toronto symbol HIS; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 13.6 million; Market cap: $16.3 million; Price-to-sale ratio: 0.1; SI Rating: Speculative) operates 90 mid-sized department stores in Quebec, Ontario and Atlantic Canada. Hart focuses on smaller cities that would be unsuitable for big-box chains, like Wal-Mart. This helps cut Hart’s risk.
In its third fiscal quarter, which ended November 1, 2008, Hart’s sales rose 11.9%, to $46.2 million from $41.3 million a year earlier. However, the gain was entirely driven by the addition of 10 new stores. On a same-store basis, sales actually fell 2.4%. Expenses related to opening the new stores, including the cost of shipping enough products to stock them, offset the higher overall sales. As a result, earnings fell 53.8%, to $0.06 a share from $0.13. Still, Hart’s $7.5-million long-term debt is a reasonable 46% of its market cap. It also holds cash of $1.8 million, or $0.13 a share.
Hart Stores is a..
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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What personal information do we collect?
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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