Outraged City analysts bash retailers for choosing to report on the same day
Overloaded City analysts bashed UK retailers this morning for all choosing to publish financial updates on the same day.
Today has been branded "Super Thursday" because so many retailers are publishing their Christmas figures. Financial reports have come from Marks and Spencer, Tesco, AO World, Debenhams, Asos and Primark-owner Associated British Foods, to name just a few.
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The deluge of data prompted Shore Capital analysts to publish "a serious complaint", slamming the retailers for their "discoordination".
The analysts said:
The British retail trade has decided to make many market updates today.
Such discoordination, to put it politely, does not serve shareholders and investors well. Investor relations executives should hold their respective heads in shame at the chaotic volume coming out today whilst seeking a more balanced information flow in 2018.
There's been plenty of good news coming from the retailers this morning, with Marks and Spencer beating forecasts and Tesco celebrating an increase in sales.