28 July 2016 – trading statement
The company has issued a disappointing trading statement for the 13 weeks to 25 June although this had been flagged up at the time of the final results’ announcement last month. Clearly, this is not good news for the company which is suffering from the poor climate in retail although the fall in the share price seems a little overdone. The group’s financial position remains sound and we believe that any readers who hold the shares should hang on. Although short term trading looks likely to remain tough, for those brave investors who want a punt the shares are a SPECULATIVE BUY.