Yeahh. Retail is littered w these - e.g. Reitmans, Signet Jeweler, Caleres -> some don't have large net cash balances but the debt free b/s provides a margin of safety and the stock performs q satisfactorily tbf; and those w a lot of cash, boy they seem to work out darn well. But they don't make sexy stock pitches..
Gamestop pre the meme madness would have qualified for the above ! It was / is a worse business than the others, but had net cash = market cap
Yeahh. Retail is littered w these - e.g. Reitmans, Signet Jeweler, Caleres -> some don't have large net cash balances but the debt free b/s provides a margin of safety and the stock performs q satisfactorily tbf; and those w a lot of cash, boy they seem to work out darn well. But they don't make sexy stock pitches..