Events
Majestic Research Quarterly Analyst Luncheons Q3 '09
When: October 14, 2009
Where: New York City, NY
Join us for our Fall series of informative lunches, as Majestic Senior Analysts provide a forum for discussing notable trends across various sectors and the inherent investment opportunities.
Wednesday, October 7th
Matthew Jacob, Director, Senior Leisure Analyst (Airlines, Casinos,
Cruise Lines, Lodging & Video Games)
Casinos: With a return to fundamentals and recent stock appreciation, as well as
expectations that Vegas has hit bottom, are trends really improving? Also, how might the
opening of CityCenter impact Las Vegas’ recovery?
Cruise Lines: As cruise ticket pricing seems to be stabilizing and even improving for some
itineraries, which segments of the market are performing the best? When could further
recovery occur and how might this be impacted by additional capacity coming to the market?
Lodging: With signs that ADR and RevPAR trends may be bottoming, which segments of the
industry are performing the best? Following the peak summer travel season, what trends can be
expected as the industry must rely more on business travelers?
Video Games: How are gamers’ purchasing habits changing during this economic slowdown?
What are the implications of more targeted spending on new games and a migration to
purchases in the used market? Which new high-profi le titles will be successful?
Time: 12:00 p.m.-2:00 p.m.
Place: Park Avenue Autumn
100 East 63rd Street (between Lex. and Park)
Thursday, October 8th
Richard Klugman, Director, Consumer Technology Analyst
will offer real-time insight into the most pressing issues and trends currently facing the
consumer technology space.
Demand trends for consumer electronics overall remain weak, though pricing trends have improved in many categories as retailers avoided the need for heavy promotions by cutting back on inventories.
We expect improving year-over-year growth rates in the fall owing more to easier comparisons than to hot product introductions.
Smartphones and netbooks remain the biggest positive catalysts in consumer tech. Touchscreen tablet devices may emerge in 2010 as a smartphone-netbook hybrid trend.
Time: 12:00 p.m.-2:00 p.m.
Place: Del Frisco’s Steak House
1221 Avenue of the Americas (at 49th St.)
Wednesday, October 14th
John Aiken, Director of Research, Senior Internet Analyst
will be providing a thorough analysis of key Internet trends, both secular and company-specifi c, and will offer unique insight into who is best-positioned to thrive in this challenging economy.
Time: 12:00 p.m.-2:00 p.m.
Place: The Modern
The Museum of Modern Art
9 West 53rd Street (between 5th and 6th Avenues)
Friday, October 16th
John Tomlinson, Director, Senior Hardline Retail & Real Estate Analyst
will be focusing this conversation on the Hardline Retail Sector, with an emphasis on trends in
consumer demand, pricing, and other relevant insights.
Auto Dealers and Auto Parts Retail Trends
• Has auto parts retail demand moderated in Q3 ’09? Are we at peak demand or is this trend secular? What role has weather played this quarter?
• What is the competitive pricing situation environment across auto parts retailers?
• How have used car industry demand trends picked up relative to new? What kind of “payback” are we seeing for new and used auto demand related to the “Cash for Clunkers” program?
Other Hardline Retail Themes
• What are the latest pricing trends for PetSmart? Does its recent pricing actions suggest further
margin pressure relative to what was addressed during the previous two conference calls? Does
promotional activity still suggest that traffi c trends remain weak?
• What are pricing and promotional trends for Best Buy and Radio Shack? Does our data suggest trends remain very weak in the CE category or have we seen any improvement? Major category pricing trends for each retailer (TVs, Mobile Hand Sets).
Home Improvement Retailers
• Is Home Depot holding true to form by reducing promotional activity? What do improved
homebuilding trends mean for the retailers? What do insights from our robust existing home pricing and inventory data suggest about the stability of the housing market, home prices, and buyer confidence?
Homebuilder and Existing Housing Data Themes
• What are the latest order, cancellation rate, and absorption rate trends that we have witnessed in Q3 for builders? How has the improved absorption rate theme played out to date in Q3? What
percentage of builders are showing positive Y/Y trends?
• What are the biggest risks that the strength in absorption rates won’t continue into Q4?
• What do recent list price trends look like in states with increased foreclosure activity relative to the national average?
Time: 12:00 p.m.-2:00 p.m.
Place: Porter House
Time Warner Center—10 Columbus Circle, 4th Floor