Hi @Jimmy as you no doubt are aware Retail is on the nose and the present trailing PE values can at this stage not really be used to gauge what the real valuation will be in 3,6,9 or even 12m.

This last fortnight has seen significant re-pricing of some of the major listed retailers take place with more than likely even further downside to come.

For me the major questions are 1) does the business have a sound future 3,5,10yrs or has it been disrupted?; 2) if it’s yes then do I sit and wait for a long term entry or jump in now when there is no clarity on just what is happening or going to happen?

I don’t think retail at this stage fits under the heading I need to top up or jump back in today because I will miss the turn around.

We can look to the macro environment to get a better understanding of the general direction in retail land and, especially discretionary retail.

Personally, I see opportunity for significant gains, however, I am happy to watch at this stage and look for a better entry opportunities.

note: Previous holder…on my retail watch list at the moment.