a) Allensford wouldn't have bought a chunk if there wasn't money to be made / a possible turnaround. b) Sudano had to go, his main objective was to grow the number of stores, but at the same time the same store profit growth stalled / declined. Now they're closing unprofitable stores which should result in overall group profit, and cutting costs majorly which will help with same store profits.. c) Negative property equity normally equates to more people shopping at places like TRS, rather than expensive shops like Howard's storage world etc.
If TRS were still going down the same path of mass expansion with little regard for same store profits, agree 100% agree that it shouldn't be touched. Since Allensford have taken some level of control however, it is arguably in turn around mode.
TRS Price at posting:
$2.12 Sentiment: Buy Disclosure: Held
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