Good afternoon, it's Paul here.

It's quiet for news today - good thing too, as it's far too hot to be working! We've got the plumber in, so there's no water - so I can't even make a cup of coffee. Hopefully the lack of caffeine won't affect my writing too much, although I do feel duty bound to flag up the risk of impairment.

(sometime later) There's been a further delay because the plumber turned off our electricity without warning me, so I lost all my work. Thankfully Google Chrome has come to the rescue - it's managed to retrieve my lost work. I didn't have the heart to chastise the plumber, because a brief loss of electricity is nothing compared with his usual handiwork - last time he flooded our ground floor by cutting the wrong pipe, thus causing the hot water tank to empty its entire contents in our kitchen-diner. Still, he's a nice chap, just not a very good plumber.

Incidentally, I did some reading up on N Brown (LON:BWNG) on the train to London last night, and it looks potentially interesting. I've picked up an initial opening sized position in it myself, and want to flag the idea to readers too. It's a mid cap, so outside my area really. The company issued a strong trading update yesterday, and it seems to me that the stock looks very cheap compared with other internet retailers (most of its sales are conducted online). Anyway, have a look, and let me know what you think. I've only done superficial research on it so far, so would be interested in reader views, who may know the company better than me. The company seems to have had problems in recent years, but could now be back on track? I think there might be a possibility that the share gets re-rated to being a growth company, perhaps?

All this business going to online retailers must be coming from somewhere - so I remain bearish on more traditional, mid-market retailers in particular.

Walker Greenbank (LON:WGB)

Share price: 197p (down 1.7% today)
No. shares: 70.4m
Market cap: £138.7m

AGM Statement (trading update) - this is a luxury interior furnishings company. It today reports on trading for the year to date…

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