The Reject Shop (TRS) posts 40% downgrade
Stock
The Reject Shop (TRS) $2.90 as at 17/10/2018
Event
The discount retailer has today dropped FY19 profit guidance by a huge 40% - hard the fathom but that’s what occurred! Although sales were expected to fall, the rate at which they have done accelerated substantially over recent weeks, down -2.4% for the first 15 weeks of the financial year. The company blamed the poor performance on mortgage rate hikes forcing consumers to tighten the budget belt. Seems like a convenient excuse to us. Much of the company’s performance will now rely on the Christmas period which did serve them well last year. TRS is down -35.79% today reflecting the markets disappointment.
The Reject Shop(TRS) Chart
Market Matters Take/Outlook
