All the big deals have already been and gone.

The general impression was very good, with merchandise well displayed, and clear differentiation between the departments -- not running into each -- and clever use of graphics.

Inference is that margin will be lower because of need to clear stock.

It's a poor (Boots) statement. The bulls will cling to the hope of a bid, but will anyone commit significant funds to buy a retailer until one thinks that the market has bottomed?

It looks as if he is going of his own volition which is a clear indication of where he thinks the business is going.

It's a sensible idea to develop e-commerce. But whether putting the whole high street/out of town operations under one fascia makes any difference is a moot point.

This looks like a knock-out bid as the management, in our view, would be unable to raise the additional finance.

It would be a pity because we think there is huge potential in that business to double profits over the next four to five years, but if 40 pct of your shareholders want out, then I suspect that is what may happen.

We've heard there is an emergency managers meeting today.

With the chairman off, a downgrade and the Japanese no longer likely to bid, the shares are unlikely to make further progress in the short term.