Exactly like I previously stated, the recent report worked on figures that made pre Christmas sales look dim without making any concession for there being an extra weekend of pre Christmas sales this year prior to Monday Christmas.
Then Boxing Day Tuesday , the twist of the stats to down ramp this stock by AFR, UBS and Umbers is just epic.
37% Margin on 1.1 Billion in sales = 400 million in Trading Profits on a Stock with a Market Cap of 500 million.
The Chilli Pepper Soup has been dished up Liberally, sounds very likely the reasons is to apply pressure to the landlords for a rent reduction.
If the new Westfield owners take the bait and cut Myer some slack on rents then that will be a Bullish announcement.
MYR Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held
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