Ann: Q2 Trading Update, page-261

Myer closed 3 stores and cut back rented space in other stores

, Thats about 5% of their stores closed, meaning 5% of floor space with 5% of stock racks, and 5% of their tills and 5% staff reduced.

But It impaced the sales by 1.4%, not by 5%. The sales per square meter was up.

The last report by Umbers was based on 2 weeks of data only, the income and expenses that created that bottom line calculation could have had more or even less than 2 weeks worth of expenses attached to it.

Oh but the Profit was down 80% on last year, Yeah but thats because they wrote off a one off items, topshop , sass and bride etc.

Solly was licking his chops at $1.15c and as reported would be more keen on making an offer pitch " IF THE MYR SHAREPRICE FELL FURTHER"

So any modern CEO with an eye on a Cash out parachute would take a V line to achieveing exactly what will bring on the T.O. and thats to shed the SP. Agenda 101 for modern CEOs.

The current game in play is to beat up the shareholders as much as possible with Media all on the band wagon so Solly can make a Low ball and get the Shareholders to Cave into a deal.

And Umbers gets a new Boat and lifetime supply of Myers undies as he accepts his new position in the next parachute position elsewhere.