The widely expected earnings downgrade is here. It's a shame management didn't manage expectations earlier and fess up to it.
The ambitious store roll out has been pared back with more store closers (no net growth), and the long-term 2033 target of nearly doubling their current network to 7100 stores will not be reached by 2033. Again, the admission is too little, too late as the share price damage has already been done.
‘This is a technology company’ narrative must be not just dead but have been buried for some time. Interesting to have seen quite a few fund managers do so well out of this stock despite being so wrong on the business.
I think "crock" and "load" mean much the same thing, as in, "This is a technology company" was, is and always will be a crock of sh!t, but I see what you're saying there TH. And I do not disagree.