Matalan to go private cheap as chips !

Broker tips: High street hits a bear note
Thu 16 Dec 2004

LONDON (SHARECAST) - The retail sector ran into difficulties today after Seymour Pierce issued a bearish note on three of the high street’s biggest players ahead of the crucial festive period.

Seymour Pierce downgraded Next, Matalan and Woolworths to “underperform” from “hold” and cut earnings forecasts on all three retailers.

The broker said Next has had a "very tricky" time over the last month and is now likely to have fallen too far behind its budget to make up the difference even with a final festive push.

Seymour added that trading in Matalan is likely to be worse than expected while the rumour mill is suggesting that Woolworths is also trading badly, particularly important as the retailer makes most of its profit in the weeks before Christmas.


What is your responce to this snap.