Joe's Jeans Inc. (JOEZ: NasdaqCM) stock finished 2012 being traded at $1.00 even.
It's been all uphill since then.
At the end of January, Joe's Jeans Inc. was priced at $1.22 a share and currently is being traded at $1.49 a share, up 0.02(1.36%).
Expansion in the works
According to a Q4 2012 Earnings Call (transcripts published by Seeking Alpha can be found here) February 21,Chief Executive Officer, President and Director Marc B. Crossman reported the company is preparing for more stores, but smaller in size.
He said, "...In 2013, we expect to open at least 10 new full price stores. By the end of this first quarter, we will have opened 3 new full price stores. It's important to note that we have been refining our retail model. Last year, our average store footprint was approximately 2,200 square feet and our sales per square foot were approximately $430. Going forward, we are targeting stores with smaller footprints of approximately 1,500 square feet. The reason is that we are seeing significantly higher productivity in our existing stores with smaller footprints..."
Stock price from a spectator's view
Even though it's a penny stock, Joe's Jeans Inc.'s stock price has been somewhat consistent. The price has been holding near $1.00 most of 2012. It experienced one severe drop Dec.4, 2012 when the stock traded at $0.88 a share, but began soaring afterwards. Starting slow at the top of the year is something this company has done twice. Jan. 2012 the stock traded under $0.55 a share. Afterwards it took off never looking back, hitting its peak April 4, 2012 trading at $1.45 a share. The current price has been its highest since January 3, 2011 when it traded at $1.61 a share. Just as it did in 2012, the stock started low and is now beginning to take off.
About the company
Los Angeles-based Joe's was created in 2001 by founder and creative director, Joe Dahan. The company has stores in New York, Los Angeles, San Francisco, Chicago, Miami and Atlanta as well as Dubai and Kuwait. More information can be found at their company website.
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