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MYR - Myer Holdings

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Myer staging a bit of a comeback after announcing the appointment of John King as new CEO and Managing Director. Mr. King has previously had success transforming UK department store House of Fraser from 2006.

A bit of confidence appears to have returned to MYR, at least in the short term.

 

Interesting times. I know nothing about the fundamentals.

However we do have a bit of a basing pattern as well as an increasing number of short positions offside. Is a squeeze upon us?

Food for thought if you are that way inclined

 
Look at it this way. The stock is up close to 40% since its early April lows, with volume also increasing in the last few days. There's plenty of heavy discounting going on in store, so revenue might increase slightly but at the expense of profit. One thing I know for sure is my credit card is making an appearance in their store again.
 
With Myer, I'm not swayed by short term price movement. I just can't see any long term future for the company in its current form that could lead to any long term sustained share price growth. Retail has evolved very rapidly in the last few years and I don't think that Myer management understood or appreciated the impact that it would have on the fundamentals of MYR's business.

Retail is moving away from foot traffic in bricks and mortar stores to huge warehouses, online sales and tight margins i.e. the Amazon.com model. The internet has changed the way people shop and Myer is not just an old school bricks and mortar retailer but one that has always pitched itself at the upper-middle class, which means that they will never be a Target or BigW because that is not who their market is.

So where does Myer go from here? My view is slowly but surely into irrelevance. Any upward short term price movement is in my opinion a dead cat bounce that cannot be sustained. If MYR gets above 70c again I will eat my hat.
 
greggles said:
If MYR gets above 70c again I will eat my hat.
Click to expand...

Myer FY18 financial results released yesterday. Sales down, EBITA down, NPAT down, but the share price is up 37.35% today to 57c on volume of more than 49 million shares. MYR now appears to have convincingly broken out of its 35c-50c trading range it has been in for the last six and a half months. Given the FY18 results I am a little surprised by today's rally.

Online sales are up and the new Myer website is coming later this month. The company claims to have a new "customer first" plan, but shouldn't that be something a retailer like Myer has in place from the word go?

I remain unconvinced but feel I may be in danger of eating my hat if this rally continues.



 
Last edited:
Greggles
Be brave.
Keep eating your hat (s) and rest assured, so long they are not the same Akurba Hats used by Joyce, I will buy them for you.
Market dived down on 12th Sept following announcement. The volume and price rise today 13 Sept probably indicating something else - time will only tell . But I am enjoying this moment after disappointment on 12th Sept.
Disclosure - Yes, Holding MYR and have been green on 12th and 13th Sept (for a change)
 
Satan !
Soli or no soli look at the volume of sales even today.
That is not driven by any annual performance result.
Why ASX did not issue their lame notice Please explain.
 
My wild guess on Friday arvo.
PMV sold out substantial chunk of MGF as per ASX.
Do they need fund for any deal ?
Hope that's true but I have never won a lotto.
Have a nice weekend holders of MYR and prospective ones too
 
returning from work I looked into MYR saga for last four days.
Market report came out on 12th Sept. Share price on 11th Sept factored the report coming and dropped by 3.3%, 1.74 m shares transacted. Do not tell me some one did not know about the financial result.
Any way official report came on 12th Sept. Transaction shot to 7.6 millions. Price dropped down by 4.6 % . Face value wise natural . Market panicked and dropped down. All ok so far.
Come 13th Sept - price shot by 37.4 %. Volume went up to 37 million - 5 times of the previous day's trading. Why ?? What ASX was doing ?
Next day 14 th Sept price shot by meagre 4.5% (about) and volume came down to 30 Millions. Still 18 times of the volume of transaction happened on 11th Sept - only 3 days back. ASX issued no notice.
Probably they will wake up on Monday and the price will come down (may be) or gone up depends on the reply comes - we did nothing wrong. Questions are : who bought such a high volume and paid why ?
With 2 days transaction time - I am expecting to see the notice of a major transaction on Monday to ASX.
Very happy with my investment until now. But do not want to fall down with sudden thud either.
Could MYR holders please provide some commentary ?
 
If it's not Sol it's a short squeeze after a couple of upgrades and will come back to it's quicksand rent commitment a and debt problems - an untenable model.
 
Here you go. ASX has published the new substantial share holder - none by Mr Wilson's company WAM and others took 5.46% stake. That explains the high volume and price. Wilson is a strategic investor and fact that they have stirred the pot, will be hopefully now creame instead of sxxx stirrer .
I will now wait and see what comes out.
 
The leaded sales report causing the trading halt reportedly shows online sales were also down, wow, what a surprize, a bunch of old farts running a business that cannot even maintain bricks and mortar thought they had some idea how to design, develop, market and run an online store.

As stated above, they are doomed, myers will be gone within years.
 
The pause in trading has now turned into a trading halt until next Tuesday, 20 November.

Looks like they're going to need a few days to put the announcement together.

 
They sold their Melbourne CBD premises a few years ago right? Do they own any real estate? What's the value? Current market cap is $370m.
 
greggles said:
If MYR gets above 70c again I will eat my hat.
Click to expand...

Cripes! It's getting close to hat eating time for me.

What the hell has happened to Myer and why has this old dinosaur been doing so well for the last month?

 
greggles said:
Cripes! It's getting close to hat eating time for me.

What the hell has happened to Myer and why has this old dinosaur been doing so well for the last month?

View attachment 93292
Click to expand...

I would guess it is Solly.

Not our own ASF Solly.

But one Solomon Lew.

I fight my way through maidens and the not so maiden applying rouge and lippy every now and then to get to the escalators up to the toy section with the grandchildren which makes one walk past expensive china and knick-knacks to gauge the health of the enterprise.

It don't look too healthy.

Solly is a player so he may sell afore buying again.

Caveat emptor.

gg
 
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