Quote Originally Posted by percy View Post
They have stated margin contraction.
That means margin contraction.
That means to get the same profit, you need to "greatly" improve sales.That is not happening.
11 store closures come at a cost.
10 new stores will take years to recover their fit out costs.
In plain language it is a disaster.
Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
Half year operating profit margin down to 9%. Market has been fully aware the margin contraction, and has act accordingly. I don't think there will be further margin contraction. SP has down from 80C to 55C. I estimate EPS at around 8C. MHJ both PE and PB have be down to historical low.