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Mr Schmidt's avatar

Thanks for the write-up

One comment though - it seems you extrapolate growth from the past (kind of)...

However, they have been explicit about spending and ramping up for further expansion - they are currently pursuing a supply chain capacity expansion for supporting up to 3,500 stores.

Also, maturing of new stores lifts ROIC, as well as 'store relocations'. I am not sure if or how you took these aspects into account or how they would impact your model.

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SHP's avatar

What are your thoughts about shop lifting? some stores have locked sandwiches and soft drinks, but the situation still seems to worsen. it is so sad. they loose so much money daily and honest customer have to pay up for the stolen items. https://www.express.co.uk/news/uk/2052365/panic-greggs-staff-use-bike-locks-on-fridges

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