RL - Fountain of Youth
We think this CEO change is a huge win for RL shareholders. It’s important, we think, for the age of the executive team at most consumer brands to be as closely aligned with its core customer as possible. For too long, that’s been going the wrong way at RL. But RL just made the biggest adjustment in that regard that we’ve seen at any company – perhaps ever.
To See Our Full Note From Yesterday CLICK HERE
To See Our June Vetting Book On RL CLICK HERE
Academy - Academy Sports has named Kevin Symancyk (43) as President and CEO. Symancyk comes from Meijer, the Midwest hypermarket chain, where he was President and COO. Prior to Meijer he worked in merchandising for Sam's Club. Could be gearing up for IPO.
Neiman - Neiman Marcus is reportedly delaying IPO until 2016 due to volatility in the market.
AMZN - Amazon launching a program called Flex, to compete with UBER, where consumers can deliver Prime Now packages. Drivers must provide their own car, have an android smartphone, and pass a background check. Pay range is expected at $18-$25 per/hr.
HBC - Hudson's Bay Restructuring North American Operations. Cutting 265 positions, and expecting $75mm in savings in 2016.
COST - 4Q15 Earnings
GPS, EBAY - Former Gap Inc. CEO Paul Pressler joins EBay Board of Directors.
ARO - Aéropostale is on notice from NYSE due to its stock price's 30 day average below $1. The company is considering a reverse split to meet the listing requirement.