Friedman's Inc.
Four West State Street
Savannah , GA 31401
Friedman's Inc. is a leading specialty retailer of fine jewelry based in Savannah, Georgia. Friedman's Jewelers is the third largest specialty retailer of jewelry in the United States, and the largest chain within its market of 20 southeastern and mid-western states. It is also the leading operator of fine jewelry stores located in power strip centers. At July 24, 2002, Friedman's Inc. operated a total of 651 stores in 20 states, of which 431 were located in power strip centers and 220 were located in regional malls. Since 1992, Friedman's has grown from just 55 stores by opening an average of 64 new stores per year in both existing and new markets. The Company maintains a strategic relationship with Crescent Jewelers who operates 155 stores in seven western states. It also holds a warrant to purchase 50% of Crescent Jeweler's capital stock for $500,000.
Friedman's has established itself as the "Value Leader" by offering a broad array of quality merchandise at competitive prices. Its convenient, high traffic locations, targeted marketing, exceptional customer service, customized credit plans and well-trained, friendly personnel will continue to be key factors in its growth.
The Company's stores provide a wide variety of affordable jewelry products, including earrings, rings, necklaces, chains, watches and other fine jewelry for men and women. These items are made of yellow and white gold, platinum and silver, and are set with diamonds and other fine gemstones. Diamonds and gemstone jewelry account for the majority of the Company's sales. The Company's stores offer a broad range of diamonds up to one carat and occasionally place special orders for larger diamonds. The gold jewelry Friedman's sells in its stores are primarily 10- and 14-karat.
For the nine months ended 6/29/02, total revenues increased 6% to $366.8 million while net income increased 84% to $23.4 million. Revenues benefited from an increase in comparable store sales. Crescent Jewelers achieved net sales of $137.2 million for fiscal 2001.
Published Research
- 10/24/2003Research noteFRM Price Decline - Our Comments And Reierate Strong Buy
- 10/03/2003Research noteOur Comments On Friedmanís Announcement Of A U.S. Department of Justice Investigation
- 08/30/2003Research noteFriedman's Ramps Up Expansion & Consolidates Crescent Jewelers; Announces Underwriting of Common Stock
- 07/28/2003Research noteFredman's Q4 EPS Estimate Reduced By Two One-Time Items; Remain Strong Buy Rating In Light Of Pending Crescent Consolidation
- 07/03/2003Research noteFriedman's Q3 Sales Report Show Recovery From March's Negative Same Store Sales Comparison
- 06/05/2003Research noteFriedman's Moving to NYSE and Prepares to Consolidate Crescent
- 05/20/2003Research noteFriedman's Strong Buy Rating Reaffirmed After Downgrade By StockDiagnostics.com Causes Price Decline
- 05/08/2003Research reportFriedman's Strong Buy Rating Maintained In Update Report
- 05/07/2003Research noteFriedman's Rating Increased To Strong Buy
- 04/14/2003Research noteFriedman's Rating Scaled Back To Buy After Strong 6 Week Price Rise
- 04/04/2003Research noteFriedman's Reports Up Q2 Results
- 03/07/2003Research noteRaising Our Investment Rating On Friedmanís From ìBuyî To ìStrong Buyî
- 03/01/2003Research noteFriedman's Raises Dividend And Jewelry A Bright Spot In Economy
- 01/28/2003Research reportFriedman's Buy Rating Maintained In Update Report; Higher Price Target
- 01/07/2003Research noteFriedman's Better Than Expected Q1; Sales Up 6.9% In Comparable Store Sales
- 12/06/2002Research noteHoliday Season For US's Third Largest Jewelry Chain Off To Strong Start Over Thanksgiving
- 11/14/2002Research reportFriedman's Buy Rating Maintained In Quarterly Report
- 10/15/2002Research reportFriedman's Buy Rating Issued In Initial Report By Dutton & Associates