We thought they'd had a worse Christmas than most people expected. They had a better Christmas, and they're talking about UK GAAP at the upper end of the range.
More Quotes from Richard Ratner:
With the chairman off, a downgrade and the Japanese no longer likely to bid, the shares are unlikely to make further progress in the short term.Richard Ratner
Justin King is doing a fine job, but he is still a long way from producing the additional 2.5 billion of sales he needs to push operating margins ahead.
Richard Ratner
It's a sensible idea to develop e-commerce. But whether putting the whole high streetout of town operations under one fascia makes any difference is a moot point.
Richard Ratner
They might get, in our view, on a decent day, an enterprise value of 2.9bn to 3bn but you've got to take 2bn of debt off that.
Richard Ratner
We've heard there is an emergency managers meeting today.
Richard Ratner
Management is going to have to take it. I'm sure it will go through. People will think it's mean, but the alternative would be pretty ghastly.
Richard Ratner
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