Numerically, it would perhaps be easy to see disappointment in the 2.5 per cent like-for-like sales figures, but that would be to overlook the strong progress in the group’s key focuses for the future and the 3.5 per cent increase in customer base. Overall, we are encouraged by this update.
FREDDIE GEORGE | CANTOR FITZGERALD
The trading update was below market expectations, and while the company has a clear niche with the over-50s and fuller-size customers, in our view the development of stores in the UK, or the online diversification in the US are unlikely to move the bar.
DARREN SHIRLEY | SHORE CAPITAL
Trading performance dipped for a number of reasons, though with a tight control of costs, an improved quality of sales and strong trading momentum upon exit of the period, we remain encouraged by progress from the company in a year of considerable activity and heavy lifting.