Reverting to £BOO’s results yesterday.  I am afraid I am still to work my way through the prelims or listen to the webcast (jobs for today) but the standout figure for me was the North American growth and how it appears sustained.

 The US apparel mkt is $2 trillion. If they were to capture 1% of this that would be $20 billion which is absurd (or is it? They have captured 1.5% of the UK market & still growing) but say .1%, That would be $2 billion. That is 4+ fold from where they are now.

I am not sure why the market is marking the price down but I do wonder whether people selling have not, like me read a single word of the prelims or listened the podcast.

I hold. Largest holding at 12% of portfolio.

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