Ann: Change in substantial holding, page-11

They have been opening and closing stores, i.e. close 2 then open 3. The numbers vary a little but the store count has been between 350-360 for a year or two now I think.
The comparable sales can vary significantly when closing poor performing stores and then opening new stores in "better" locations. This is something TRS is doing and rightly so.
An audit would need to be carried out for the actual figures.

But when you are opening and closing only a couple of stores each year - out of a total store population of, as you say, 360 - then, by the laws of arithmetic, its impact on like-for-like sales is negligible.

So no audit is required to know that the reported comparable sales numbers are more than adequately representative of the reality.


As for the website not being fully up to date, I'm not sure what the relevance of that new point you are now making.

Personally, I do not see that as being a major fundamental flaw with the business.

I expect that things are very fluid and complex given the current extreme events as a result of the shutdown of the economy.

And as an owner of the business, I'd far sooner have the scarce resources of the company being focused on the critical operational aspects of the business, than on the optics of whether the web page is a few days out of date with the correct names of certain staff members.