Ann: Q2 Trading Update, page-328

DJs has had its revamp of many things across the Company with the takeover etc.

Myer is in Transition, if DJs was still on the ASX it would be posting better numbers and be trading at a higher market Cap Id say, If they have the same floorspace Im not sure. But Id say they are doing better by sq meter than MYR is.

Closing a Big Dud Store is a smart move, in the future Myer commented its planning some smaller new stores.

So who knows if the new smaller stores go back into a similar Location of where a large store once was.

For now Myer just needs to hold water until its online and new strategies can start to kick in.

Myer posted 80% fall in profits last year due to 56m writedonws.

So that itself is a distortion being 12m net profit, But even if Profits are down another 5m next year, and if the write downs are much less than 56m say 35m writedown. You could see a net profit posted of 24 Million. then the announcment spin says HEY we are up 100% on our net profit from last year.

Was 12m and now 24m up 100% on last year. Hopefully you understand maths and the writedowns well enough to see that this is quite probable to happen.

With online sales rising and it being unlikely for there to be writedowns of the 56m size next year , even with a slip in total profits Myer could still post a large gain in NET Profit for 2018. Possibly 80% gain.

And those that dont understand Maths will think, Oh it was 80% down last year and 100% up this year so thats better.