Myer's profit downgrade

The Myer profit downgrade today is probably the first of many in the retail space. What is difficult to determine is how is TRS performing in this weak consumer environment given their improved offer and focus at the discount variety end. If they can meet, or even get close to their guidance, it will be a big tick for management and the discount category generally...not to mention a kicker for the share price. Interesting few weeks ahead.