This is a weird one. Street estimates for FY10 are shaking out to be pretty realistic at $1.95, but they’re way too low for the upcoming quarter. Check out our preview note from yesterday for color, but backlog trends have inflected on the positive side, inventories are close to being cleared, FX starts to help COLM in 4Q after a year and a half of hurting, SG&A cuts implemented in late 4Q08 still carry through this quarter, cold-weather gear has been a stand-out in early fall selling, and footwear growth for COLM was the best we’ve seen in over 4-years. Yes, I still have issues with the parts of the company as it relates to brand management, but let’s face it…more is going right than wrong. That’s the first I can say that for COLM in a while. High-single-digit 4Q revenue decline? No way… We’re shaking out at $0.60 vs. the Street at $0.40.
People's Bank of China Spins China’s Bad-Loan Data
PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.read more
UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'
“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."read more
Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)
"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.read more
An Update on Defense Spending by Lt. Gen Emo Gardner
"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.read more
Capital Brief: 5 Things to Watch Right Now In Washington
Here's a quick look at some key issues investors should keep an eye on from Hedgeye's JT Taylor and our team of Washington Policy analysts in D.C.read more
Cartoon of the Day: 'Biggest Tax Cut Ever'
President Donald Trump's economic team unveiled what he called last week, "the biggest tax cut we’ve ever had.” Before you get too excited about that hang on a sec. "Trump Tax Reform ain’t gettin’ done anytime soon," Hedgeye CEO Keith McCullough wrote in today's Early Look.read more