date:Apr 24, 2013
e regardless of the financial hit from the US as it carries the cost of a 1bn programme to revive its core UK operation after a profit warning in January last year.
The consensus forecast is for a 10.6 per cent drop in pre-tax profits to 3.5bn, down from 3.9bn previously.
Clive Black, retail analyst with Shore Capital, is predicting an even steeper decline of 14 per cent.
Given the complexity of the US operation which includes nearly 200 stores, three factories and a major distribution centr