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Merchant Retail

February 2003

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

In the light of the latest Christmas statement, brokers have once again upgraded forecasts. The main reason for the upgrade is another record performance from the Perfume Shops, where like-for-like sales were up 13% for the seven weeks to 4 January, and ahead 15% for the 40 weeks to 4 January. Based on 84 units, overall sales in the 40 weeks were up 23% helped by the nine stores opened in 2002. TheDepartment Stores side performed less well in a difficult tradingenvironment. Joplings' four mainland stores delivered like-for-likesales down by 1% in the 7 weeks but  up 4% in the 40 weeks to 4January. Meanwhile, De Gruchy, Jersey's largest department store, wasdown 3% and 4% over the same periods. Numis has upgrade ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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