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The Company designs, manufactures, sources and sells apparel essentials products such as t-shirts, bras, panties, men's underwear, kids' underwear, socks, hosiery, casualwear and activewear.
The quality of this company's earnings is dubious at best. At worst, it is blatant manipulation to the fullest extent allowable under the law. Let's review the company's first quarter earnings results. Out of thin air, the company suddenly reduced its allowance for doubtful accounts by a whopping $11.8 million, or 38%. Then a currency benefit kicked in another $11 million. Oh, and don't forget the $2 million from lower cotton costs. Hello? Last I checked cotton prices have surged over the last 12 months. All of this of was done of course so that the company could report double-digit earnings growth on a 5% decline in sales! Oh, and so that the company could beat earnings expectations, of course. Buy the underwear, not the stock.
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