No reason to be bullish
While the Chart looks like a nice setup for a bounce, the Conference Call makes me think -- it ain't worth the risk.
The C-Suite has lost-control over the numbers --and makes excuses. We've all heard this before, the 'we're transforming the company" (translation -- 'we are trapped by the old management style' but we can't think of a better way of doing things) And then the typical 2022 excuses -- global operating environment challenges, meaning "inflation increased product cost" which decreased consumer demand (duh). Or the Covid excuse, which they are still using, implying the Chinese underwear market is a significant portion of their business. Maybe it is, I'll have to check the earnings report and see if that's broke out. But it sounds like bullshit to my ears. They also blamed Retail for having excess inventory. Retail isn't moving the expense product out the door fast enough to meet the previous volume numbers. Price going up, Sales going down.
The C-Suite has lost-control over the numbers --and makes excuses. We've all heard this before, the 'we're transforming the company" (translation -- 'we are trapped by the old management style' but we can't think of a better way of doing things) And then the typical 2022 excuses -- global operating environment challenges, meaning "inflation increased product cost" which decreased consumer demand (duh). Or the Covid excuse, which they are still using, implying the Chinese underwear market is a significant portion of their business. Maybe it is, I'll have to check the earnings report and see if that's broke out. But it sounds like bullshit to my ears. They also blamed Retail for having excess inventory. Retail isn't moving the expense product out the door fast enough to meet the previous volume numbers. Price going up, Sales going down.
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