After an unscheduled warning in May, guidance prudently baked in a continuation of weak end-market demand and consensus EPS reduced by 7%/9% in FY18/FY19 respectively. It would be premature to say this was purely weather-led, but John Lewis weekly data certainly supports this argument. Either way, tough conditions are forcing capacity out of what is still a highly fragmented market with share up for grabs. Mothercare’s downsizing highlights this and Dunelm’s ambitions for Kiddicare are likely to ....
