Ann: Trading Update, page-13

Great update.

Like for like sales up 44% and gross margins increased 4% - a retailer's dream. At half year Gross Margin was aprox 67%.

EV/EBIT multiple (188/38) = 4.94. Apart from its future lease liabilities it has on its stores, and future employee benefits, it has no long term debt.

For a company growing sales at near 50% this seems like great value.

I like Peter King's outlook, which provided insight into the business's growth, acknowledging 'strong consumer sentiment', 'reallocation of household budgets away from international travel', 'low interest rates', 'customers heightened focus on their homes'.

Has anyone seen this clarity of tailwinds described by other retailers?

I'm going to hire a removalist truck and back it up on any pullback!! God dam there is value here!!!