"million dollar question is how much of this was priced in. May be an opportunity to pick some up cheap today."
The trading update popped into my inbox. At first glance it looked horrid. But then I reminded myself that the market loves cost cutting initiatives - even if it came with a large number of store closures. Is this "another" downgrade or a potential future uptick? The same thing recently happened with Wesfarmers and the debacle with Catch. Sure...different business, but the market loves a strategy that seemingly stems the bleeding.
For mine, the next few days will be interesting. But they've now got this out of the way before HY results announcement.
I can see some profit taking coming into effect here...
DMP Price at posting:
$36.09 Sentiment: None Disclosure: Held
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