Darspal S Mann
Long/short equity, growth at reasonable price, special situations, deep value

Better To Step Aside As Financial Restructuring Pauses At Libbey

Performance of Libbey Inc. (NYSEMKT:LBY) stock and financial restructuring efforts was phenomenal over the last few years. Aided by favorable credit markets, the company successfully restructured its balance sheet and improved operational efficiencies. The final leg of "Libbey 2015", the strategy launched in 2012 to improve financial and competitive positioning, is to work on revenue growth, but a closer look at the fundamentals suggest that easy pickings are all gone.

Investors may not be well served to dismiss recent revenue weakness as temporary weather related pause. Besides the broader economy, Libbey stands exposed to weakness in the top and bottom line due to

    Weak U.S. retail & restaurant with falling foot traffic and slower Same Store Sales growth...
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