Profit downgrade is hardly a surprise given the once in a...

Profit downgrade is hardly a surprise given the once in a generation trading environment, which directly links into the online sales as they have had a shortage of stock from people not being able/ willing to head out (im speaking from a Melb perspective but also generally across Oz), IMO this will improve over the next few months.

Other positives are the inevitable regulation for BNPL and end of job keeper/seeker supplements. People will erode the savings banked to date fairly quickly, and this will improve sale volumes for cheaper second hand goods.

All in all, the SP upside is huge and perpetual/ swing traders are irrelevant because for every seller there is a buyer. Almost nil risk of a CR/ dilution given the bank balance.