By Steve Moore | Monday 8 June 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Lookers plc (LOOK), describing itself as “one of the leading UK motor retail and aftersales service groups”, last week updated with CEO Mark Raban “pleased to have reopened our dealerships… We have used the time as the business has been closed to adapt and evolve to meet changes in consumer behaviour, not just for a post Covid environment, but also to enhance our digital offering and the trend towards electrification… There is still a lot more work to do, but we have the determination, platform and brand partnerships to take the business forward”. Today “Update on Results”… and the shares currently around 25p, approaching 20% lower...
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