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Kesa Electricals (KESA) 191p

Our tip on the electricals retailer simply hasn’t gone to plan. It may have finally sold off French furniture business BUT, yet the proceeds are being ploughed into share buybacks rather than the hoped-for special dividend, and we won’t even know the scale of the buyback programme until full-year figures are published on 24 June. Meanwhile, Kesa continues to face a stiff headwind on trading, a factor likely to intensify pressure on the share price. Tipped at 208p a couple of months back (24 January), it leaves the shares down roughly 8%, but cutting losses is the sensible thing to do.