I have predicted it before but predict again – the imminent trading statement from Thomas Cook (TCG) will be a profits warning. Of that I am certain. My question is whether its self-important and image obsessed CEO Harriet Green gets a one way ticket out of the building the same day.
The share price chart implies that all is not well at Cook. The shares have nose-dived from 180p at the start of May to just over 120p now. Anecdotally I hear that most Travel Agents had a dire June as folks contemplated the World Cup rather than two weeks in Ibiza. I expect this to be confirmed by Cook shortly.
When Cook was a glory recovery play the fact that Harriet Green was obsessed with her own PR – as much as that of the company – did not matter. But now that the merde is hitting the fan she will find that that obsession of hers will make her vulnerable.
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