been reading through the h1 results and the credit book actually stabilised which is mad given where we wer…by @thuli_dd on $LEW

been reading through the h1 results and the credit book actually stabilised which is mad given where we were two years ago, receivables quality tightened and that's the real story here not just the topline. comparable retailers are still bleeding margin but lew managed to keep it flat, probably because furniture has structural scarcity right now. not saying it's a moonshot but if they can keep the credit discipline going the downside looks fairly protected from here.