I think it is a sad day for the company and we are going to miss him. But, typically of him, he has planned his own succession immaculately. We will have a dinner and a nice party for him.
We believe the competitive and economic environment will remain very challenging in the year ahead. Whilst we think we have the opportunity to make improvements to some of our ranges, we are still budgeting on the basis of negative like-for-like retail sales for the year.
We beat our expectations in the run up to Christmas and this time last year we had particularly high stock levels leading to a bigger clearance.
We thought we ought to put that in because it's the truth but the (like-for-like) number even with those factors taken into account is still very disappointing.
It certainly wasn't where we were planning to be.