MYR - Myer Holdings

[sptrawler]

Gaps always return.

Myers will die, it is just a matter of time.

I agree with you, it doesn't look good for general merchandise stores, too easy to compare and get it online.

https://thewest.com.au/business/ret...-big-w-stores-across-australia-ng-b881153681z

The difference between Big W and Myer, apart from the quality of what they are selling, is that Woolies has something else to fall back on.

 

[willoneau]

In june pick as got support at 0.60 and weekly bars up on average volume. Also coming out of long term consolidation from April 2018

 

[willoneau]

Any thoughts on the sideways motion of the share price ?

 

[sptrawler]

Meyer gets a 34% drop in profits, mainly due to one offs, but the bottom line still looks shaky IMO.
Interesting even their online is increasing, sign of the times? Could have big repercussions for shopping centre owners, at a later date?
https://www.smh.com.au/business/com...cies-restructuring-bites-20200305-p5471j.html
From the article:
A total of $15.2 million in one-off costs was the primary cause for the plunge, including $2.1 million in redundancy payouts after the company laid off 35 head office staff in January, and a $13 million spend to close its clearance floors around the country.

Stripping away these costs, net profit after tax grew 0.4 per cent for the half to $41.5 million, excluding the effect of a new accounting standard. This was still lower than Citi analyst expectations of $43 million in profit.
Overall sales stayed in line with predictions, rolling in at $1.6 billion, down 3.8 per cent on the prior corresponding half. But comparable store sales for the half declined 3.6 per cent, a much more significant decline than the 2.3 per cent analysts had forecast.

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When stripping away the impact of Apple and Country Road exiting the department store, comparable sales grew 0.4 per cent. Online sales continued to be a strong point, shooting up 25.2 per cent to $168.2 million.

 

[bux2000]

I have entered MYR in the 2021 CY competition
It will be interesting to see what 2021 brings for MYR in regard to online sales.
My very amateur's eye sees a cup and handle forming on a weekly chart no where as impressive as Tech/a's DYL chart but well here goes.?️‍

Thanks
bux

 

[debtfree]

It's a long way back to $4.00 but I suppose you have to start somewhere.

 

[debtfree]

Solomon Lew’s Premier Investments has picked up 41.1 million shares in Myer at 40 cents each. Yesterday's price jumped up by 14.86% to end the day at $0.425 cents.
Only time will tell if others follow and chase this stock higher.

 

[peter2]

The increasing demand has been a surprise. Didn't think there was anything more than 0.03 in the break-out.

 

[dyna]

Solomon Lew’s Premier Investments has picked up 41.1 million shares in Myer at 40 cents each. Yesterday's price jumped up by 14.86% to end the day at $0.425 cents.
Only time will tell if others follow and chase this stock higher.

Premier Investments outlayed another $ 16 Million to top up its 10% holding to 16%. That 2017 ,$100 Million purchase at an S.P of $1.15 has lost about $70 Million, so lew is agitating for the sacking of the 3 independent directors before accepting a board seat for himself.

 

[greggles]

This is one retail dinosaur I never expected to see bounce back, but yet here we are. After bottoming out at 30c in June 2022, the MYR share price has climbed steadily to hit a high of $1.135 today.

The financials released today show a company improving across all metrics, all against an environment of increasing interest rates and decreasing disposable income.

I must admit to being really surprised by these results.

 

[farmerge]

This is one retail dinosaur I never expected to see bounce back, but yet here we are. After bottoming out at 30c in June 2022, the MYR share price has climbed steadily to hit a high of $1.135 today.

The financials released today show a company improving across all metrics, all against an environment of increasing interest rates and decreasing disposable income.

I must admit to being really surprised by these results.

View attachment 154122

And from the ashes of a long defunct fire Myer is rising
Lazarus is making a 2nd coming