General retail environment seems to be looking a bit brighter, but whether MYER as an individual company is participating in the 'recovery' is another question.
Specialty shops and online seem to be doing well in the headlines, but we will soon see whether people are still hitting up the department stores.
Their web offering is still poor IMO and their success with the one day flash sale last year was a 'flash in the pan' so I don't expect to see much input from these areas.
If they are axing product groups I would expect there to be some lag between loss of those sales with the gain in sales of new product groups as they gain traction.
IMO the recent gains in SP has been more to do with the yield bubble than fundamental strengths in MYR
On a bright note the Gift & Homewares Fair in Darling Harbour saw an increase in foot traffic versus last year, but whether the retailers were slapping their cheque books around is harder to tell..
GLA
MYR Price at posting:
$2.99 Sentiment: ST Sell Disclosure: Held
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