GLG News by Mr. Nicholas White, President
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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Signet's(SIG) Sale Strategy in the UK May Be A Looser
January 26, 2009
H.Samuel Knocks Off 50% on Valentine’s Day Sets | www.idexonline.com
Signet's knocking 50% off its low end jewelry for Valentines Day. Here's why that may be a mistake.
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Is Circuit City a Victim of the Our Broken Free Market System
January 19, 2009
Circuit City to liquidate remaining US stores | www.businessweek.com
In a country that prides itself in nurturing the free market system, more and more large companies are falling victim to our peculiar form of it. Here are some of the reasons why.
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Revised: Many More Jewelry Bankruptcies Ahead Unless Retailers Change
January 15, 2009
Shane Co. files for Chapter 11 | www.bizjournals.com
The shake out of the retail jewelry business has just started, suggesting that creditors recoveries may be more costly to achieve and less than in the past. Here's why and what jewelers need to do to reverse the trend.
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Has Management Lost Creditability at Zale (ZLC)?
January 5, 2009
Zale, Quest Energy Partners: Biggest Price Gainers (ZLC, QELP) | online.wsj.com
After a year of superficial changes and a cosmetic make over, Zale is in more jeopardy than ever. Here's more...
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Retailing 2009-The Second Year In Recession.
January 2, 2009
Retailers' holiday sales drop at least 5.5 percent | www.msnbc.msn.com
Businesses in 2009 will be faced with an enigmatic array of state and local schemes to stimulate economic growth. Unfortunately, most won’t work and those that do will take time measured in years, not days, weeks, or months. Here’s why 2009 is likely to be much worse as the recession takes hold.
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Finlay Bankruptcy Could Yield Low Recovery For Creditors
December 19, 2008
U.S. jeweler Finlay cautions on liquidity position | www.reuters.com
As Finlay cautions the market that it will likely default on its debt, creditors should brace for one of the most unusual and costly bankruptcies in recent times. Here's why.
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Zale’s (ZLC) Troubles Increase
December 18, 2008
U.S. jeweler Finlay cautions on liquidity position | uk.reuters.com
Zale guaranteed about $80 million in future lease expenses to complete the sales of Bailey Banks and Biddle to Finlay a year ago. Now that Finlay looks like it will default, Zale will be on the hook for those lease payments. This problem is just another in a series of strategic mistakes and miscalculations that has weakened the company over the last 18 months.
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2008: Just the End of the Beginning For US Retailers!
December 5, 2008
Retailers see sales drop in dreary November | www.businessweek.com
As bad as this years holiday sales could be for US retailers, 2009 could be a lot worse. Here is why.
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Has Finlay's(FNLY) Restructuring Only Delayed the Inevitable?
December 5, 2008
S&P Downgrades Finlay Enterprises To 'SD' | www.jckonline.com
Finlay's prepackaged restructuring means bond holders may recover even less when the company is near default again. Here is why.
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Is Zale (ZLC) the Next Penny Stock?
December 4, 2008
Zale Corporation (NYSE: ZLC) reports increased losses | www.hotstocked.com
Traders have already started discounting Zale stock for earnings risk, but that may just be the beginning. Here is why the stock may be riskier than speculators think.
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Zale Disappoints Again, Again, and Again!
November 27, 2008
Zale Corporation Says Does Not Believe That Previously Issued Earnings Outlook Should Be Relied Upon | www.reuters.com
Zale's top-line sales problems continue to be greater than the effects of a recessionary economy. Here's why.
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Luxury Names Trade Brand Value for Cashflow
November 19, 2008
In Rare Move, Luxury-Goods Makers Trim Their Prices in U.S. | online.wsj.com
Discounting and over distribution could spell the end to many luxury and aspirational brands. Here's why.
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Signet(SIG) and Zale(ZLC) Must Create More Value!
November 17, 2008
Should Blue Nile Marry Itself? | www.fool.com
The business model of mid market jewelry companies like Signet and Zale depended on an increasing money supply and cheap credit for growth. Now that the old monetary paradigm is broken, both chains, as well as, most of their competitors need look for new ways to create value for consumers in as the new economy emerges. Here's one way how it could be done.
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Can Signet Group (SIG) Wait Two Years For a New CEO?
November 17, 2008
BRIEF-Signet Jewelers says Terry Burman to remain CEO until Jan. 2011 | www.forbes.com
Signet's decision to wait two years for Terry Burman to retire could mean the company falls behind in adapting to a new economy and customer fostered by this recession. Here's why.
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DeBeers Blitz-Too Late to Help The Likes of Zale and Signet
November 10, 2008
De Beers details 'unprecedented' holiday ad blitz | www.nationaljewelernetwork.com
DeBeers' decision to double its advertising investment in the US market comes too late to help retail jewelers this year; especially the middle market ones like Zale and to a lesser degree Signet. However, leadership in rough diamond distribution and a renewed commitment to the US market could make a distinct difference in years to come. Here's why.
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Can Blue Nile Return to Growth?
November 3, 2008
Analysts expect Blue Nile to post 16-cent profit | www.forbes.com
Blue Nile faces huge challenges in the fourth quarter, as well as, in FY 2009. Here's why the Internet's biggest jeweler's growth may slow to a trickle.
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Sharp Drop In Rough Diamond Prices Signals Harder Times For Jewelers
November 3, 2008
Sharp Drop in Prices at BHP Billiton Rough Diamond Tender | www.idexonline.com
For the first time in a half century diamond prices are behaving like commodities. Here why the $65 billion dollar jewelry industry is in for even more volatile times.
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Any Candidate for Sears' (SHLD) CFO Needs More Than Grooming
October 23, 2008
Sears grooms new chief financial officer | www.businessweek.com
With financial markets imploding and directors managing both financial institutions and the company they invest in, CFO's professional independence may constitute the last line of defense against self interest and greed. Here is why.
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Its Not Business as Usual at Wal-Mart (WAL)
October 20, 2008
In early holiday push, Wal-Mart cutting toy prices | www.reuters.com
Wal-Mart's early sale tactics could mean big loses for competitors, here is why.
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October 20, 2008
Tiffany shares rise as S&P raises stock rating | www.forbes.com
Tiffany has defied current trends for luxury retailers, but the forces of weakening global economy and a deteriorating US market maybe catching up with the venerable Fifth Avenue retailer. Here's why
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