I read that in the first 7 weeks total group sales are down $1million per week on last year which they blamed on mandated store closures.
These mandated store closures aren't ending anytime soon. It's already been flagged that lockdowns in NSW and VIC aren't ending until 70-80% are vaccinated.
ADH stores in these states may not open until December 1 which means they could spend about 20/26 weeks of the half shut.
I think ADH is an outstanding business. I'm just giving my view that I want to trim my parcel which I have by 30% and direct those funds elsewhere.
That's confidence, page-10
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