i can not see any reason for lew to put his cunningly earned dollars into myer - certainly not at the current price of $2.19............ he would be entering an arena where everything is against him -
* a retail sector that is already showing the first stages a declining ecomomy.
* a structural shift in the form of retail shopping ie. via the internet.
* new formidable competition having entered the market in the form of a woolworths south Africa owned david jones with a very impressive track record....
I am thinking that once woolworths south Africa owned david jones gets properly underway in australia that it will likely add a few more nails into the coffin of its direct competitor in myer - look at what it has done with country road....
the share price has only just risen to its current level from a low of $2.00 probably as partly because of this news article ..... with historic earnings decreasing year on year, and analysts forecasts earnings for the next year or so also well down, i can not the see the share price going anywhere except down..... in my view as the lew/ david jones story fades within a short space of time so will MYR' s share price.....
gk.
MYR Price at posting:
$2.19 Sentiment: Sell Disclosure: Not Held
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