Well as i estimated..Myer managed to eke out a 1-2% sales growth number..if they had actually had a negative number the howls would have been deafening. Glad i am not the client of a broker that was pushing this stock..yuk! so where to from here.. I am told myr is selling on a forward pe of around 12x..given it is no longer a growth stock shouldn't it be trading at 10X or less. certainly this one looks as though you will be able to buy at sub 3. I am a value buyer in the low / mid 2's on a reasonable dividend yield..not much downside from there. Harvey norman traded well in electronics, jb did well, others are booming in homewares..that fact that myer didnt shows there is certainly some issues that need addressing..they cant survive on make up and womens clothes only..
MYR Price at posting:
$3.14 Sentiment: ST Sell Disclosure: Not Held
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