Whilst TRS has 30m cash on hand, its because it didnt pay any...

Whilst TRS has 30m cash on hand, its because it didnt pay any dividends, & again invested a minimal amount in capex. That wont be a constant - its going to have to pay out dividends & start restoring assets & extending leases.

& I didnt say it was capitalizing expenses. I said all capex is maintenance capex as TRS is not improving its book value P/S. And Whilst it has strong free cash flows, the margins are small.

Im not saying its a sell, I would probably buy if it falls below $6. I believe its resistant to Amazon, & as a discount retailer would sell product even in a recession.