BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

<ul type="disc"><li>The turnaround at Tuesday Morning (TUEM) remains a work in progress after the Company reported fiscal first quarter (September) results showing comparable sales increased by 3.2 percent, though earnings missed our estimate.</li></ul> <ul type="disc"><li>Fiscal first quarter was not expected to have stellar results from TUEM. Instead, our expectation was for modest improvement in operating structure from the June quarter.</li></ul> <ul type="disc"><li>TUEM reported sales of $176.9 million compared to our estimate of $183.6 million. The biggest change in the quarter was TUEM closing one store in July because of a lease expiration.</li></ul> <ul type="disc"><li>Fiscal first quarter served more as an update on the turnaround the current management team is undertaking. TUEM was building inventory and realigning the in-store experience. The investment story in owning shares of TUEM is based on what these changes could create in subsequent quarters.</li></ul>

The turnaround at Tuesday Morning (TUEM) remains a work in progress after the Company reported fiscal first quarter (September) results showing comparable sales increased by 3.2 percent, though earnings missed our estimate. Fiscal first quarter was not expected to have stellar results from TUEM. Instead, our expectation was for modest improvement in operating structure from the June quarter. TUEM reported sales of $176.9 million compared to our estimate of $183.6 million. The biggest change in the quarter was TUEM closing one store in July because of a lease expiration. Fiscal first quarter served more as an update on the turnaround the current management team is undertaking. TUEM was building inventory and realigning the in-store experience. The investment story in owning shares of TUEM is based on what these changes could create in subsequent quarters.

Tuesday Morning

TUEM: Rebuilding a Business