Factory 2-U Stores downgraded to "sell"

12/12/03 - Wedbush Morgan Securities

NEW YORK, December 12 (New Ratings) — Analysts at Wedbush Morgan downgrade Factory 2-U Stores (FTUS) from “hold” to “sell.”

In a research note published yesterday, the analysts mention that Factory 2-U Stores announced the resignation of its CEO, with immediate effect. The sudden departure of the company’s CEO has adversely impacted the prospects for a potential near-term upturn in operations, Wedbush Morgan says.