RE: RE: Not even a peep...The loss was due to the write down of goodwill on Harry Winston's retail operation. This is reasonable and why I was looking at net tangible book value. Goodwill is not included in that figure. Their operations showed a profit of $0.34. That's better than the expected $0.19 that the street estimated.
Goodwill is a number carried on the books which means that management over-paid by $93 million when they bought Harry Winston. Not exactly a badge of honour but when your market cap is $2 billion ( as it was when they bought HW, it doesn't seem like such a big deal. However, when your market cap is down to $222 million it's another story. However, anyone trying to analyze the real value of this company, already removed intangibles like good will and could still conclude that it represents value here.