Competitive pressures are my biggest concern to the margin guidance. Just think back to the debacle that occurred a few years back when competitors were going out of business. Price matching becomes a real issue in these scenarios.

Feels like costs have blown up a bit with this update, I sometimes wonder how good their internal systems are given these negative surprises seem to come out of nowhere.

Based on a long term view, there is probably good entry point not far from here. Quality name with long runway of store rollout ahead. A good one to buy on the rare dips and sell on the highs.

The one thing I have never liked though is the low ownership from management and repeated selling.