A lot of speculative posts in this forum. With Myer, I agree with some of the down-rampers in this forum that 'long term' in the current state of play there are concerns notably
1) Management (current) are not doing a great job. Lack of retail experience is definitely evident.
2) They haven't done enough to maintain the brand - steady bleed.
I don't think Solomon Lew is actually driving the share price down! Which some seem to suggest. The results are doing that themselves.
Saying that, the company is profitable. It's down ~50% YoY ( I don't think on any metric - sales, EBIT suggests the company is worth half it was a year ago) with manageable debt etc. so I don't think there's any risk its going broke any time soon.
I think there is value at current prices either as a medium term buy or as a potential takeover opportunity (there is definitely underlying value in the business, its just not being run properly). Anyway just my 2 cents. DYOR.
MYR Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
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