Syms Clothing earns more from Real Estate than Clothing
July 11, 2008
Real estate remains a good investment, particularly for Syms clothing. The CEO of the store recently announced to its shareholders, that Syms Clothing earns more from real estate than from clothing. The company had approximately $2 million in income from its real estate ventures, and yet only saw a little over $800,000 in profits from clothing sales. Despite that admission, the CEO insists that Syms is not a real estate investment trust (REIT).
Comments
Got something to say?
Real Estate Quote of the Week
"I often hear remarks from agents like, “the bank sold that house really cheap - 30% below market value”. I don’t agree with that kind of statement. If various banks are the only sellers selling in an area and they are selling all of their houses at a perceived “below market” sales price - perhaps that IS the market for that product in that area. A good price fixes any of the various bad conditions. There is no good reason to take (or keep) a listing that isn’t going to sell."
Russell Shaw - in AgentGenius from Phoenix AZPolls
Loading ...
