La Senza (LSZ.TO)

Having been getting out of some of the less successful line extensions. 3.8% dividend. Has done very well.

The real opportunity is what the management has done recently to clean up the financial statements. They were equity holders in a US company which they recently sold. Also had a few stores in the US that were losing money and they're closing those down. Canadian operations are very profitable, about $1.50 EPS a year. Balance sheet is clean and management is really focused on getting the stock price up. Cheap.

Sector has weakened. Still likes.

Well run. A lot of cash. Good balance sheet.

Getting into the bumber season. Cheap.

(Was a top pick on Apr 29. Up 7%) Still likes.

Good management. A lot of cash. Good franchises.

Trades at 8 X earnings.