@Didak
You might want to include the number of stores operating back in 2005 and now to make a more insightful comparison.
In particular, compare the following for the two periods:
- average revenue per store
- average profitability per store
- minimum operating lease commitment/liability
- number of shareholdings by directors, i.e. has it increased over the years?
These are just quick on the surface kind of comparison.
See if the result of the comparison shows a business that is moving ahead or going backwards operationally.
For a business that is operating in the bottom end of the market, in theory, they should be doing well when consumer sentiment is negative like right now.
However they are clearly struggling at the moment. Have you thought about the reasons behind this?
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