Well not much of shakeout after Sunday Telegraph article. It been long reported that FC wanted to renegotiate leases, it was quoted they have made some progress on the Oxford Street lease, leading to critical article. Let's wait for fuller story tomorrow.
Not expecting great news here, key update for me will be if the wholesale business returned after a 17% decline in SS16, how the online performance faired and if the margin performance held up after increased discounting?
Viewing the online site, I'd have to agree with the activist investors that the brand as too much depth in stock, continuing to produce similar product lines with slight variations, Reiss / Ted look to be years ahead in appeal and style.
This Company`s success was largely based on very clever branding playing on the letters FCUK. Whilst this branding is less prominent it is stale and no longer humorous and should be dropped completely. IMHO a complete rebranding is required if the company is to recover.
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