I've yet to read the above but having read the summary, 'Mr Market' may at least slightly like the forward outlook given the couple of comments about how margins should improve in 2H 23.
Australia seems to be the laggard in performance: perhaps this will worsen even though many of EZ's sales are 'essential' rather than 'consumer discretionary'.
The summary surprised with its assessment that the UK performed 'strongly'. Having been there in the last few months, the many householders I spoke to were either neutral or pessimistic re that nation's economy.
One might have expected the dividend to be cut, but in US$ terms it's remained constant.
The foreshadowed inventory reduction is pleasing. As the company comments, this should further enhance cash flow.
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