Ann: Publication of Research Report by Patersons, page-40

Ho hum ... just another dead spin to try get people excited.

Agree with ambitious.1 that a lot of that are all retail 101 stuff and should have been done DAY 1.

Still no mention of break costs around closing down one of the two warehouses. Also no mention of staff redundancy costs (surely no one expects to relocate anyone interstate).

Does anyone know that Coppa may have retained the B2B side of his business (now CSW-IT) before selling his B2C business (eStore)? Could this be either double-dipping on his part, or just another spin by the new CEO? Take a look at:

http://www.csw-it.com.au/page/about-us

Furnitures and rugs? Don't they cost more to keep in the warehouse and more subject to trends and seasonality that come and go (i.e. shorter shelf life) than pots and pans? What are these people thinking? TPW is already light years ahead in these categories with plenty of scale, and SHP now wants to play catch up from ground up. Really?

On a more positive note, good to see the words "shareholder value" making their 1st ever appearance in an SHP announcment in over 2 years. Guess the directors have been burnt hard enough themselves to wake up to reality after all. Pity it may well be too little too late.