I guess the first order approximation could be that retail...

I guess the first order approximation could be that retail (household goods) sales have fallen by 2.6% and this will be the same for TRS, which probably isn't a good outcome. However:

a. over the past 12 months TRS has made a considerable investment in changing their stock and implementing efficiencies such as the new distribution centre and other cost-saving initiatives
b. in fiscally constrained times people may be shifting from supermarkets to TRS to save a buck

Points a & b I expect will push up profits for TRS. How much by remains to be seen, but without a profit warning, profits should be at least the bottom of the guidance range.