It's excellent that more than half of the new MyerOne members are under 35. I'd expect a majority are female, perhaps 55 per cent.
77.2 per cent is a terrific tag rate for MyerOne in the 12 months of FY 24.
That sales are only up 0.2 per cent in the first seven weeks' trading for FY 25 that started on 1 August 2024 means they are continuing to decline a little once CPI is taken into account, even with the Brisbane City and Frankston store closures taken into account.
Myer has $114 million in net cash. That's a nice little war chest.
Let's hope MYR doesn't overpay if Olivia Wirth and the Board decide to go ahead with the Premier Investments tieup.
The dividend cut to just A$0.005cps may not be received well by 'Mr Market' although I'd have thought the expectation from rational observers may have been for no dividend to be declared given the decline in NPAT and the need to conserve cash for the much discussed above acquisition(s).
MYR Price at posting:
87.5¢ Sentiment: Hold Disclosure: Held
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