Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Wednesday, September 20, 2006
Galaxy Bogie
Golf Galaxy, Inc. (Nasdaq: GGXY reports increasing net income. But compared to last years comparable quarter same store sales are off dramatically barely registering a fractional increase of less than 1%. The cash position has dropped dramatically in what you would expect their best golf season quarter. Last but not least the inventory position is up a dramatic 50%. This is a caveat emptor moment.