Quick Value #215 - Retail Merger + Turnaround
Transformational acquisition + industry bottoming = retail turnaround trading at 0.4x TBV / 3-4x EBITDA
Today’s post covers:
Specialty retailer focused on “credit-constrained consumer”
Historically profitable but 2 years of large losses being extrapolated by investors
Recent acquisition/merger = catalyst + meaningful earnings improvement
Super cheap shares at 0.4x TBV and 3-4x pro-forma EBITDA
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Market Performance
