Grom is talking about cash burn at
If executives can push same-store-sales to projected levels, Grom said, the company will probably avoid the cash flow and supplier-related problems that have been dogging it for years.
Late Wednesday, the company reported that revenue at stores opened at least a year rose 2 percent. That's compared with a 31.7 percent plunge for the same measure during the holiday quarter a year ago.
Those figures can be a critical gauge of a retailer's health as they strip away the volatility of stores opened or closed in the past year.
The company had been struggling for years, but things got worse under a botched recovery strategy by former CEO,
Changes at the retailer, which included jettisoning long-cherished brands, alienated a large number of core shoppers, leading massive losses and plunging sales. Johnson, who had previously managed the retail concept for
"Share recovery is happening as customers responded well to restocking of basics and private brands," wrote
Chen raised his price target for the stock by
In premarket trading, shares of
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