The whole retail is equally in trouble currently. I have not seen good BS yet, it is either bloody weak or it is made up with inflated intangible assets.
Look at ADH for example, if it was not for intangibles (almost twice more than previous year) they would be in loss. Their assets vs liabilities balance is negative actually, yet their SP higher than pre-Covid. But you cannot make a fool of serious investors, just look how it's been dumped by CBA, WAM and by a couple of other funds recently...
Some industries are even worse.. look at qantas with their highest morningstar rating, 2.5b loss, enormous debt, hugely negative balance... should be a garbage case...
Just some examples how badly market is currently distorted, so unless you do your own research harder you never know the real story..
The whole retail is equally in trouble currently. I have not...
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