But the online Myer sales are growing very well. The growth rate is very high.
Clsing some stores in areas where the people arnt high end shoppers is a good move.
There is 9 potential new store openings on hold for now but they would be a more upper class locations and likely of a smaller footprint with a more targeted stock line for the area.
The retail space has had many times in the past when sales were dim and have always recovered with the Cycles.
Myer will progressively reduce floor space and improve online sales as well as open smaller boutique type stores in select locations over time.
Current decline dosnt mean terminal, pushing this as terminal is basically BS.
Australia has the highest Population Growth in the Western World as well as high Tourism Potential.
This Company will recover, mabe not to $4 per share or to net Profits of 170 million any time soon but this Company has the Potantial to again post net profits of 100 million in time.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)