Ann: Trading and Sales Update, page-130

When you think about it, those of us watching JB stock levels knew by New Year that sales numbers would be no where near 20,000 because with stores being depleted it was obvious they were not re-ordering through Christmas. If you don’t stock it you can’t sell it and if you’re not re-ordering then MGM won’t be booking the sales in that period either. I just assumed by that stage it was already known by most and already priced in but it seems to have taken enough by surprise to give it another leg down.