Myer has made a significant effort to reduce stock on hand, with a focus on preserving cash. Remember that appliance you were looking for would have sat on Myer’s balance sheet and would have used cash. Historically over stocking has required Myer to launch ‘stocktake’ sales where they have sold excess stock and cost (or worse a loss).... Admittedly this doesn’t always result in ideal outcomes...
IMO going to see a pullback on the SP this week as profit taking kicks in. As SP has gone up approx 15% in past 2 weeks.
IMO DYOR
MYR Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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