No. of Recommendations: 7
Capital investments are set to hit $1.4 billion this fiscal year, signaling a clear commitment to expansion
Well, that seems to be the plan, this will take some time to show if it's successful...
A clear commitment to expansion is what they say, but count me skeptical.
Cap ex was $1.7b 2 years ago, and $1.6b last year. Next year's cap ex budget is going to be $1.4b. When I see EPS of $0.89, with $0.59 going to the dividend, nothing to share repurchases, and cap ex budgets actually being cut next year, not increased, it's hard to square that with their words about a clear commitment to renovation OR expansion.
