Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Goldman Cuts Galyan's Trading to 'Underperform'


Goldman Sachs downgraded Galyan's Trading (GLYN) to underperform from in-line.

Analyst Matthew Fassler says he's concerned by the magnitude of recent sales shortfalls. Though the weather is a reasonable root cause in this highly seasonal business, he thinks Galyan's young average store age should give it an edge vs. the competition; he notes its first-quarter showing tracked toward the lower end of the sporting-goods sector.

Fassler says earnings per share volatility associated with this sales shortfall is surprising -- Galyan's is taking significant markdowns and has still achieved a sharp, same-store sales decline, leading him to question the concept's traction. He thinks a more controlled pace of expansion would prove preferable.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus