Mark Jackson, CFA Danier Leather DL-T DON'T BUY Jan 08, 2004

Fairly well run smaller retail company. Has the leverage of costs being in US$and revenue in Cdn$. Has some margin issues. Would prefer larger retail, such as Canadian Tire, Rona or Forzani group.

Mark Jackson, CFA

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$11.000

Stock price when the opinion was issued

household goods

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TOP PICK

Very inexpensive. Expanding well. A takeover candidate.

TOP PICK

A very good price. Well financed.

WEAK BUY

This stock is cyclical with the weather. Has a good brand name.

PAST TOP PICK

(Was a top pick on Jan 17 up 23%) Still likes.

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Mark Jackson, CFA Danier Leather DL-T DON'T BUY Jan 08, 2004

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