The Xmas tills are a ringing!

she-ra, accept the point on private equity but around September there was a lot a "short" interest comment and I wouldn't be surprised if there are not a few positions waiting to be fried.

Sat, take a different slant from you: I think that there is room for tightly managed speciality shops and many people buying cameras and accessories don't want the clutter of Dixons.Supermarkets etc with all their other offerings.

In the US the "Guitar Shop" is one of the fastest growing retail companies and one of the most profitable and it sells eh...only Guitars and accessories ,and there are several other examples. Whether or not JSP is tightly managed we shall see but I don't think that supermarkets and the web will rule the retail world. The market is fragmenting and JSP has the opportunity to develop its own space into which the others will have to try to follow.

That "gap" in the chart is also very attractive