BNET Industries
Market Cap:$92.5M
Last Fiscal Year Sales:$230.6M
- Public
- US
Dow Jones Description
REX was incorporated in Delaware in 1984 as a holding company to succeed to the entire ownership of three affiliated corporations, Rex Radio and Television, Inc., Stereo Town, Inc. and Kelly & Cohen Appliances, Inc., which were formed in 1980, 1981 and 1983, respectively. Our principal offices are located at 2875 Needmore Road, Dayton, Ohio 45414. Our telephone number is (937) 276-3931. Historically, the majority of our net sales and revenue was derived from the operation of consumer electronics and appliance retail locations. In addition, we have been an investor in various alternative energy entities beginning with synthetic fuel partnerships in 1998 and later ethanol production facilities beginning in 2006. In fiscal year 2007, we began to evaluate strategic alternatives for our retail segment with a focus on closing unprofitable or marginally profitable retail stores and monetizing our retail-related real estate assets. Reflecting this focus, we sold approximately 60% of our owned retail and vacant stores in fiscal year 2007. In fiscal year 2008, we commenced an evaluation of a broad range of alternatives intended to derive value from the remaining retail operations and our real estate portfolio. Following a comprehensive analysis, late in fiscal year 2008 we leased 37 owned store locations to a third party. We also provided the lessee an option to purchase all of the properties being leased from us during the first two years of the lease term. ...
Cob and CEOStuart A. Rose
Number of Employees 80
Peer Companies
NAICS Code Radio, Television, and Other Electronics Stores: 443112
Recent Events
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Rex Stores reports net loss in Q1
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Rex to pay execs bonuses up to $1 million
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Rex Stores exiting retail industry
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Rex Stores Closing Springdale Location
News & Analysis
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rex stores corp. - All News and Analysis
Rex Stores Corporation F3Q08 (Quarter End 10/31/08) Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Our first question comes from [Arnold Brief - Goldsmith & Harrison]. [Arnold Brief - Goldsmith & Harrison] You highlighted the cash position of the company and indicated of course that it helps you get through a recession and you can buy stock all of...
REX Stores Corporation F2Q08 (Qtr End 07/31/08) Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Mike Nery - Nery Asset Management. Mike Nery – Nery Asset Management You said there are two stores. How many stores are in total are currently closed that you’re shopping the locations for?...
REX Stores Corporation F1Q08 (Qtr End 04/30/2008) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from Rick Weinhart - BMO Capital Markets. Rick Weinhart - BMO Capital Markets With the retail business, can you tell me what TVs did? You gave the 2.2% as the impact on the comps, but what were...
REX Stores Corporation F4Q07 (Qtr End 1/31/08) Earnings Call Transcript
Question-and-Answer Session Operator Ladies and gentlemen if you would like to register a question please press the 1 followed by a 4 on your telephone. You will hear a tone prompt to acknowledge your request. If your questions have been answered and you would like to...
Additional Resources
Zacks Analyst Blog Highlights: The Gap, Rex Stores, HH Gregg, Transocean and Diamond Offshore.
http://www.profits.zacks.com/ CHICAGO -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity...
REX Stores Reports Fiscal 2009 First Quarter Results
- Repurchased 251,463 Common Shares in Fiscal 2009 to Date - DAYTON, Ohio -- REX Stores Corporation (NYSE: RSC) today announced financial results for ...
REX to Report Fiscal First Quarter Results and Host Conference Call and Webcast Tuesday, June 9 at 11:00 A.M. ET
DAYTON, Ohio -- REX Stores Corporation (NYSE: RSC) will release financial results for its fiscal 2009 first quarter ended April 30, 2009 on Tuesday, June 9 th before...
REX Stores Reports Fiscal 2008 Fourth Quarter and Full Year Results
Repurchased 303,910 Common Shares in Fiscal Fourth Quarter and a Total of 1.6 Million Shares in Fiscal 2008 ...
REX to Report Fiscal Fourth Quarter and Year-End Results and Host Conference Call and Webcast Wednesday, April 15 at 11:00 a.m. ET
DAYTON, Ohio -- REX Stores Corporation (NYSE: RSC) will release financial results for the fiscal fourth quarter and year ended January 31, 2009 on Wednesday, April 15 th...
REX Stores' Board of Directors Authorizes the Repurchase of an Additional 500,000 Shares
Has Repurchased 489,089 Common Shares Pursuant to October 2008 Share Repurchase Authorization DAYTON, Ohio -- REX Stores Corporation (NYSE: RSC) announced today that its Board of Directors has authorized the repurchase of up to an additional 500,000 shares of its common stock. Purchases will be made from time...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Stuart A. Rose | Cob and CEO |
| David L. Bearden | President & COO |
| Douglas L. Bruggeman | Chief Financial Officer |
| David Fuchs | Vice President, Mis |
| Keith Magby | Vice President, Operations |
| Philip Kellar | Vice President Store Operations |
| Rex Stores | Executive |
| David S. Harris | Director |
| Edward M. Kress | Secretary |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Charles A. Elcan | Board of Directors |
| Dan Elcan | Board of Directors |
| Lawrence Tomchin | Board of Directors |
| Lee Fisher | Board of Directors |
| Mervyn L. Alphonso | Board of Directors |
| Robert Davidoff | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Cob and CEO | Current |
| Rex Stores Corp. | Chairman | Current |
David Bearden has been our President and Chief Operating Officer since October 2005. Mr. Bearden joined us from Panasonic Company where he held several senior management positions over 24 years, most recently as Group President of Panasonic s Consumer Electronics Sales Group.
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | President & COO | Current |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Chief Financial Officer | Current |
| Rex Stores Corp. | Board of Directors | Current |
| Corporate Accounting Inc | Manager | Former |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Vice President, Mis | Current |
| Rex Stores Corp. | Manager, MIS | Former |
| Management Information Systems Company | Manager | Former |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Vice President, Operations | Current |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Vice President Store Operations | Current |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Executive | Current |
| Organization | Position | Status |
|---|---|---|
| HCP, Inc. | Executive Vice President, Medical Office Properties | Current |
| Rex Stores Corp. | Board of Directors | Current |
| Behavioral Healthcare Corporation | Founder | Former |
| Kimpton Hotel & Restaurant Group LLC. | Former | |
| Ardent Health Services, LLC | Former | |
| Hcp | Former | |
| Behavioral Healthcare Corporation | Investor | Former |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Board of Directors | Current |
David S. Harris has served as a director of the Company since June 2004. He has served as President of Grant Capital, Inc., a private investment company, since January 2002. From May 2001 until December 2001, Mr. Harris served as a Managing Director in the investment banking division of ABN Amro Securities LLC ("ABN"). From September 1997 until May 2001, Mr. Harris served as a Managing Director and Sector Head of the Retail, Consumer and Leisure Group of ING Barings LLC, a financial institution ("ING"). The operations of ING with which Mr. Harris was associated were acquired by ABN in May 2001. From 1986 to 1997, Mr. Harris served in various capacities as a member of the investment banking group of Furman Selz LLC. Furman Selz LLC was acquired by ING in September 1997. Mr. Harris, through the firms with which he was then employed, provided investment banking services to the Company from time to time from 1996 through July 2001. In 2001, the Company received financing from an affiliate of ABN while Mr. Harris worked for ABN. Mr. Harris is a director of Rex Stores Corporation. Mr. Harris is a resident of the United States.
| Organization | Position | Status |
|---|---|---|
| Steiner Leisure Limited | Chair | Current |
| Rex Stores Corp. | Director | Current |
| ABN AMRO Securities | Managing Director | Former |
| Furman Selz | Board of Directors | Former |
| Steiner Leisure Limited | Director | Current |
EDWARD M. KRESS, 57, has been our Secretary since 1984 and a director since 1985. Mr. Kress has been a partner of the law firm of Chernesky, Heyman & Kress P.L.L., our legal counsel, since 1988. Mr. Kress has practiced law in Dayton, Ohio since 1974.
| Organization | Position | Status |
|---|---|---|
| Heyman Corporation | Partner | Current |
| Rex Stores Corp. | Secretary | Current |
LAWRENCE TOMCHIN, 79, retired as our President and Chief Operating Officer in 2004, a position he held since 1990, and remained a part-time employee and consultant until January 31, 2006. From 1984 to 1990, he was our Executive Vice President and Chief Operating Officer. Mr. Tomchin has been a director since 1984. Mr. Tomchin was Vice President and General Manager of the corporation which was acquired by Rex Radio and Television, Inc. in 1980 and served as Executive Vice President of Rex Radio and Television, Inc. after the acquisition.
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Board of Directors | Current |
| Rex Stores Corp. | President and Chief Operating Officer | Former |
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Board of Directors | Current |
MERVYN L. ALPHONSO, 68, has been a director since 2007. Mr. Alphonso retired as Vice President for Administration and Chief Financial Officer of Central State University in March 2007, a position he held since 2004. Mr. Alphonso has over 30 years of experience in the banking industry. He was President, Dayton District, KeyBank National Association from 1994 to 2000 and held various management positions with KeyBank of New York, N.A., Crocker National Bank and Bankers Trust Company. Mr. Alphonso served as a Peace Corps volunteer from 2001 to 2003.
| Organization | Position | Status |
|---|---|---|
| Rex Stores Corp. | Board of Directors | Current |
ROBERT DAVIDOFF, 82, has been a director since 1984. Mr. Davidoff has been a Managing Director of Carl Marks & Co., Inc., an investment banking firm, since 1990, the general partner of CMNY Capital II, L.P., a venture capital affiliate of Carl Marks & Co., since 1989, and is Chairman and Chief Investment Officer of CM Capital Corporation, the firm’s leveraged buyout affiliate. Mr. Davidoff is also a director of Access Integrated Technologies, Inc. d/b/a Cinedigm Digital Cinema Corp.
| Organization | Position | Status |
|---|---|---|
| C.M. Capital Corporation | Chief Investment Officer | Current |
| Core Technology Services | Managing Director | Current |
| Carl Marks & Co. Inc. | Managing Director | Current |
| C.M. Capital Corporation | Chairman | Current |
| Access Integrated Technologies, Inc. | Director | Current |
| Carl Marks & Co. Inc. | Director | Current |
| Core Technology Services | Board of Directors | Current |
| Rex Stores Corp. | Board of Directors | Current |
| Hubco Exploration, Inc. | Director | Current |
| Marisa Christina, Inc. | Director | Current |
| Carl Marks & Co. Inc. | Chief Investment Officer | Former |
| Carl Marks & Co. Inc. | General Partner | Former |
| Carl Marks & Co. Inc. | Chairman | Former |
| Clearview Cinema Group Incorporated | Director | Former |
Executive News
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Rex Stores: Look for Free Cash Flow to Accelerate
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Rex Stores reports net loss in Q1
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Zacks Analyst Blog Highlights: The Gap, Rex Stores, HH Gregg, Transocean and Diamond Offshore.
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STOCKS NEWS US-GE Aviation sees steep drop in orders this year
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STOCKS NEWS US-Earnings diary for June 9
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STOCKS NEWS US-Citi expects to begin stock swap later this week
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STOCKS NEWS US-Barclays cuts price targets on airlines
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REX Stores Reports Fiscal 2009 First Quarter Results
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Rex Stores: Low-Risk, Pure Play on Ethanol
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