Such a versatile thread title that even today it's as relevant as ever! (hopefully not for long!)
I saw the news in the morning that footlocker recorded a 10% decline in sales for Q2 over pcp and it's share price got whacked some 30%.
AX1 is a meaningful part of my portfolio and I continue to hold but if I'm being impartial and Footlockers performance is anything to go by, I would keep my hopes low from this evenings announcement. One thing that does excite me is more private label stuff from AX1 and also rollout of Nudelucy. If I'm not mistaken nudelucy is a private label brand so it's higher gross margins and with only circa 24 stores the runway for growth is massive.
There is no positive way to spin the Footlocker announcement as AX1s offering is nearly identical.
AX1 Price at posting:
$1.83 Sentiment: Hold Disclosure: Held
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(20min delay)