My contribution..I've looked at this for a week or two now...A...

My contribution..

I've looked at this for a week or two now...

A part of me would love to buy 10-20%, of the company, and have a go at fixing it..

But then I reflect on the history of discount retailing in this country...

Does anyone have a good handle on how many groups have come and gone? 

After some quick research, revealing stuff which i was largely unaware of, being a 40 year old Adelaidean...

Its ridiculous...

TRS is probably the best that we've seen in Australia, but i think its a tough gig, and fundamentally, the issue is rents..

Rents are just too high in this country...

And they have to compete with other retailers, like LOV, and Smiggle, that can seemingly extract egregious margins, courtesy of this little thing in business called "brand power".

So it's a massive ask, and I'm not confident in the company's ability to navigate the clearly looming, (driven by falling credit growth),  consumption and economy wide softness (although perhaps a weaker economy would be a net positive for TRS??? hard to say....)

All the best!