KATE CALVERT | INVESTEC
With 2014 having been a year of infrastructure investment, we expect the operational benefits to start being felt in 2015. We see material growth opportunities not only to maximise UK profitability but also driving the online business and rolling out in Europe.
JOHN STEVENSON | PEEL HUNT
With management time and focus targeted largely on delivering the warehouse move and system changes over the past year, we believe performance will benefit from a shift in emphasis back onto growth. 2015 expected cash of £125m+ suggests shareholder returns will come sooner rather than later.
FREDDIE GEORGE | CANTOR FITZGERALD
Having almost halved in value over the last quarter, the stock, which has been the worst performing retail stock in FTSE 250 this year, is rated at 16.6 times 2015 earnings, putting it on a discount to sector and peers. We still believe the firm has a great opportunity to develop its online sales and overseas.