I normally never buy retail stocks, but LE caught my eye. I bought it at just under $11.

They just sold 50% of their licensing IP for $300 million, paid off all their debt (about $240 million), instituted a $100 million share buyback (about 31 million shares outstanding). Plus the buyer tendered for 2 million shares at—get this–$45 a share.

I think the interest savings will just about offset the loss of 50% of their licensing revenue (TBD)

The current market cap is just over $300 million, or about what the other 50% of their licensing business is worth. Then there is the rest of the business.

Profitable, no debt and CHEAP, IMO