Debenhams have released an update this morning - see below.
In short, the restructuring will be deeper after all. While progress had been made on the bridge, it is no longer seen as sufficient to stabilise the business.
Overnight, GPA, the Brazilian subsidiary of Casino reported their Q4 and FY18 numbers. Conference call is at 1:30
It’s bad news.
Losses have widened, but more importantly:
Thomas Cook are conducting
Some thoughts in the evening:
- Galapagos: We understand that he company is hiring advisors. This may still only be a rumour.
Management have pulled forward results to this Friday.
Clearly that’s a positive signal.
