Liquidation World (LQW.TO) Buy, Sell or Hold

Liquidation World (LQW.TO)

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2 watching

WAIT

Potential upside. They are tight for cash. Need a loosening of credit. Need to sell inventory. Likes it a lot. It’s in the bargain bin space.

TOP PICK

People will be looking for bargains. New management team owns Big Lots in the US, which has done very well. Negative is refinancing as they still can't buy all the product they want. Tremendous amount of product around through bankruptcies. Thinks same-store sales will go up. Can see huge upside but it will take a long time.

BUY

Had bought this one looking ahead to a recession. Unfortunately, bought early and it has come down quite a ways. CEO left. Closed US operations. Just renewed and expanded their bank credit lines and he thinks there is a potential for good times. Same-store sales went down in the past year and hoping this will turn.

HOLD

(Market Call Minute.) Major dangers. May do well because they are a discounter.

BUY

Very clean balance sheet. Has about $15 million of debt but he thinks the company can support it. Closing their US operations except for 3 stores. Expanding in Canada but they have cut back the expansion plans, which he likes. They have to work on their margins. If there is a recession going forward, they can get some bargain buys. Retailers go out of business and they pick up the goods at major discount.

PAST TOP PICK

Then $5.50 Things have gone wrong for them, in moving to the states. Inventory problems. Thinks the up side is still around $10, so is more attractive at these levels. But they have also have more debt. He's holding his position, and remains confident. Thinks it is a worthwhile play, if you can take the risk.

PAST TOP PICK

(A Top Pick Oct 6/06. Down 2.7%.) Were doing much better until the last couple of weeks when they reported quarterly earnings and had lost money. Likes management. Balance sheet is good. Still likes.

COMMENT

They do very well when there are disasters. A very thin trading stock. Well-run company. Good geographic distribution.

PAST TOP PICK

(A Top Pick Oct 6/06. Up 4%.) They continue to expand and their revenues keep going up. Has a lot of confidence in them.

TOP PICK

Have been losing a lot of money. Management is starting to clear out some of the old inventory. Same stores sales is up. Balance sheet is in good shape.

PAST TOP PICK

(Was a top pick on May 14. Down 41%) Has had problems and has been a disappointment.

TOP PICK

Cheap. Earnings prospects for next year should be well over $1. High ROE.

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Liquidation World (LQW.TO)