I'd imagine another couple months of bhagholding here but my thoughts are still the same; if they right-size the business and get back to the modest FY19 financials and a change in macro sentiment, I don't see this being worth anything less than $1.
All of a sudden they can return to growth with a better macro outlook, and suddenly having someone Brett Blundy on the register becomes very handy for expansion.
Unfortunately the business was just in a pretty dire state given the egregious inventory position and weak consumer environment; there's not shortcut for right-sizing for that but I believe the risk will be rewarded.
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