Updated Views on DSK, page-70

Agreed, the discretionary retail sector has held up far better than expected and the outlook is stronger than I had anticipated.

My prior view was that DSK has a bright future and an attractive valuation on a longer-term perspective - however it faced substantial short-term challenges. My view has now shifted due to resilient results from other key players in the discretionary sector - NCK, JBH etc. I now suspect that we may be close to peak-pessimism for discretionary retailers, an excellent time to enter.

Whilst the half yearly results will be bleak, this matches the sentiment & consensus expectations thus there is likely limited further downside barring unforeseen issues.

The analyst forecasts for a rebound in 2025 now appears reasonable - in which case DSK's current price is relatively attractive. I'm going to take a medium sized position prior to the report, in anticipation of a better trading outlook than the current SP suggests.