Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, September 12, 2008

Article Excerpt

REITMANS, $16.28, symbol RET.A on Toronto, reports that earnings in the three months ended August 2, 2008 rose 10.3%, to $35.4 million or $0.50 a share from $32.1 million or $0.45 a share a year earlier. Sales fell 0.8%, to $289.5 million from $291.9 million. Same store sales fell 4.5%. In the latest quarter, continuing unseasonable weather, lower consumer confidence and rising gasoline prices reduced store traffic. That in turn dampened sales. However, the strong Canadian dollar and better inventory controls boosted profits. Reitmans is Canada’s largest specialty woman’s wear retailer. The company holds $230.9 million or $4.04 a share in cash. It pays a $0.18 quarterly dividend, which currently gives it a 4.4% yield. Reitmans is still a buy. MAJOR DRILLING, $35.91, symbol MDI on Toronto, reports that revenues in the three months ended July 31, 2008 rose 24.3%, to a record $178.2 million from $143.4 million a year earlier. Excluding one-time items, earnings rose 39.9% to $26.3 million or $1.11…