-• • 8 Deutsche Bank Securities Inc Figure 36: Sales revisions - The % below shows the change in 2015 consensus estimate since February end Colic. Disc. (Sbn)n down 1.4% 725 1 I 1525 2016 201.&momes 1525 1 1425 .1 2017 e ar m" 1325 4 ea., 1725 I ti25 2008 201 WO .. 20 Cons. Staples ($bn) - down 1.0% .... 1480 1 1300 350 I 2014%agek. 20 ....I./a 1250 j 2012 Ens 2000 1000 1000 1400 1200 1003 800 gy Mini. down 9.6% ...... 5008 i 2012 2013 3014 20 10 2003 i in:in; ') t I d' , 1350 1 1300 1250 1 11 2012 XL= 1200 1 1"......e.m— 1150 ton 1100 010 1050 1020 i 950 930 1200 I mo i . 2 .0jr :m it° Ocstaa..., 1003 lC.:a 4 925' . . . ”I :87'7-7"7"'..? sgsrasgsizto.... ;444''' . . Ot3t363636:56:56:5 So86362.32.6366.63 e.t.a . *4, 2e ., c00000000000000 15C0 1400 1300 1700 IWO 1030 4 SCO ....A. I oar 2011 1250 moi 2013 20m is IMO 1200 1100 1000 WO 800 700 2015 1413 . 6. _ r 2018are 2012 r ota toa rW ill 420 1 400 i 350 1 760 380 ' 320 280 1 tool 4444.ser.7vcIvs:.fl: 000000000000000 013 201 1150 1 2012 ,.....e. 1100 - defames.. 1050 201 1000 950 900 880 2009 2011 2010 2003 1 200 --- kn 1 1. g O GOO 4$1;t!ri.7 1.-:"4 1?,7:11? 6 ♦ r soo '4 4;4"": -"""'"v v" • 000000000000000 Mr --""n"-- o T("le....UM 310 300 290 280 270 260 50 240 230 220 'Shit - dOWn el S' 'r 201 2 4.0242, 201 2013eamme 2039 0 • 2000 444!5!.7. 71"'4q=37 4.T. 000 S00000 000000 ijilliIM Sbn) up O a 340 -• 330 i 10 1 320 11 2013 012 310 X0 oce o 290 1 `.av e, F (Shn) doc4ri 2. 1% 9503 201 9033 8503 t ........... 13CO3 r e t -12 )503 edaddder271 7000 MOO 050 0 6000 5500 15 S&P 11000 i 10500 10000 O5CC, sc-C)($bn) - down 1 6to 2015 2013,41: 41' ..- 1 ".....„.._ N. d dli 2023 nees7 _rad...J:2 . . . 8848''-'7"7"' n 44$00.-..-NNOO.n. tgstssagassgsgs . . 000p0000SoO0000 4 4 9 9 a. * '7 " ". 1" es. "