Ann: DSK 1H FY24 Investor Presentation, page-58

I read an interview with Gerry Harvey in the AFR today and he was talking about growing optimism in retail conditions over the next 6 months alongside Harvey Norman reporting results that were a bit better than the low expectations of the market. It's a very different sector clearly but I keep wondering whether DSK have got something wrong in their product offering from where they were a couple of years ago? It's feels like there's something else going on alongside the poor retail conditions. Universal were also better than expected and looking at their SP performance since June of last year they would have been a much better counter cyclical pick as retail bottoms out.