Retail, Singles’ Day & 1 Dumb Short
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 11 November 2015
⏱️ 20 minutes
🧾️ Download transcript
Summary
Middleby & Macy’s sell off for very different reasons. Alibaba celebrates Singles’ Day with $14 billion in sales. Plus we look at the short interest in retail stocks and discuss why anyone would short Costco.
Transcript
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| 0:00.0 | It's Wednesday, November 11th. |
| 0:03.4 | Welcome to Market Foolry. |
| 0:04.6 | I'm Chris Hill joining me in studio today for a million dollar portfolio, Jason |
| 0:07.8 | Moser. |
| 0:08.6 | Happy Veterans Day to you. |
| 0:10.8 | Thank you to all the veterans out there across America and around the world who tune into market |
| 0:16.5 | foolery. Thank you for all that you do. We're going to talk a lot of retail today because |
| 0:21.4 | there's a lot going on in retail but we're actually going to start |
| 0:24.0 | with some earnings from Middleby. Middleby if you're unfamiliar the |
| 0:29.6 | basically the restaurant supplier. I mean, pretty much good chance that if you've been to a restaurant in the United States in the last 12 months, they've got some middlely equipment back there preparing your food. |
| 0:43.4 | Yeah. |
| 0:44.4 | Third quarter revenue up 11%. |
| 0:47.6 | They missed on profit by 2 cents a share and the stock is down 10%. |
| 0:51.8 | That's that that seems like an overreaction for not a very big miss. |
| 0:57.0 | Possibly. I mean, I think so the biggest question we always have with middle B, quarter |
| 1:00.8 | and a quarter out, is in regard to organic revenue growth. |
| 1:04.8 | So that's, you know, revenue growth that is on their own without any acquisitions. |
| 1:09.6 | And with businesses like Middleby, Middleby is an acquisition-based company. |
| 1:14.2 | I mean, their strategy is to grow via acquisition. |
| 1:16.8 | And it's not to say that that's a bad thing by any mean. |
| 1:19.0 | I mean, if you look at what Middleby has done to date, |
| 1:22.2 | Salim Masool, the CEO there, has just developed a phenomenal track record in an obvious, |
... |
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