If you have ever dealt with major landlords like Westfield, you know that they NEVER cut tenants any slack. If it's in the contract, they will take the money from you. They are happy to see tenants go to bankruptcy. Renewal of leases is a slightly different thing though and MYR has already said that they are looking at closing stores.
You are very bullish, but you have ignored the market update from MYR, where in the last paragraph reads, with my emphasis: "A significant proportion of annual NPAT is generated uring the second quarter. Myer expects 1H 2018 NPAT (pre implementation costs and individually significant items) to be materially below the previous corresponding period. Given the recent sales volatility and considering the magnitude of sales expected in the coming weeks, Myer does not have a reasonable basis to provide a specific profit range for the half or full year at this time."
For MYR to say this, it is clearly a red flag. Forget about your extra weekend of shopping. The next market update will be interesting, for sure, or you might have to wait for the H1 result.
MYR Price at posting:
65.0¢ Sentiment: None Disclosure: Not Held
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