Q3 update should be anytime now.
If you've been keeping an eye on the retailers who have printed Q3 numbers so far you will have noted a fairly dramatic slowdown from last year. This is exactly the concern that many investors had and the reason why SPs for discretionary retail did not follow profits all the way up during the covid boom. Now the question is where do sales rebase to? Does it stablise at 10-20% above pre-covid or has the pull forward of demand meant it will need to dip lower first?
Looking back at the last 6 months of 2020 with rose-tinted glasses is not that constructive imo. Business conditions have moved on and so has market perceptions.
Q3 update should be anytime now.If you've been keeping an eye on...
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