Question is 'what's going to stop it from falling?' Interest rates are dropping - good for retail as a standalone influence, but RBA is dropping rates for a reason- to stimulate spending as conditions are woeful and getting worse. (despite Wayne Swan swearing blue that things are fantastic) Nothing in the budget to spur spending, in fact a reduction in hand outs. NDIS cash will go mostly on goods and services not offered by department stores.
With poor adoption of websales IMO the only thing stopping the rout will be when the market decides that the yield is worth the risk of further downside in a crappy retail environment. Sorry for the negativity, but other than a short lived retrace I don't see much joy til they can get their website working for them or can convince customers to come in and pay RRP for the benefit of a 'profound retail experience'
MYR Price at posting:
$2.72 Sentiment: ST Sell Disclosure: Held
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