interesting - if depressing - read, page-11

Hey I'm just going by what was in the SMH article. I don't doubt they have well positioned, profitable stores but if they have too many badly located stores then their retail division aren't going to perform well. I just had to google 'the importance of location in retail' to find that out, ironically BBG management must've found that too difficult.

regardless, even if you don't trust the SMH or me, or any naysayers, the final proof will be in the bidding prices. VF Corp has spent a lot of time and effort into the bid process - they're not going to waste all that and walk away empty handed if they can make a profitable acquisition. So if the optimists are right, we should see VF corp raising its bid above Naude's price. If they don't, well surely that's more than enough proof that the company, at $300m, isn't the 'bargain' that many people here think it is.

Time will tell.