They're targeting two different markets. H&M is on the younger and sort of cheaper end of the market. Perhaps one of the reasons that they haven't done so well is that this is a much more competitive part of the market.

Jane Coffey

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We're anticipating margins will go up in the next couple of years.

— Jane Coffey

Earnings momentum is going to continue to be a key driver. Those companies that are in a good position in the market, that can engineer their own momentum, are going to be in demand.

— Jane Coffey

As long as we see signs of stable growth in the economy, you could have gains in the market. Things are not as bad as some people expect.

— Jane Coffey

We think that their profitability going forward will benefit from this.

— Jane Coffey

They've done well to have enough gains from the sale of assets to be able to offset these losses because they were in fact quite a bit bigger than the initial estimates.

— Jane Coffey