Interesting stock, page-142

Some MYR holders will assume if allegedly 'weaker' rival David Jones' trading has been 'positive', MYR's results for the FY ending on 31 July 2021 will be even better.

With physical stores in Greater Sydney and environs plus Victoria closed, I'm wary of such predictions. However MYR hasn't been distracted by an equivalent to DJs closure of its lossmaking food businesses including standalone outlets such as in Chapel Street, South Yarra (Melbourne) or at petrol stations. MYR has had other distractions such as Mr Lew/PMV though.

This is what 'The Australian' online (to be in paper tomorrow) suggests:

David Jones defies Covid hit

"Upmarket department store David Jones has seen consumer confidence improve despite the pandemic, with closed borders preventing Australians from travel overseas driving higher “inward focused consumption”.

This has seen a rebound in sales for David Jones, as well as the Country Road fashion group which is part of the same retailer, with second half sales for the department store better by more than 17 per cent. However, the retailer is expected to see its profits shaved by writedowns and impairments linked to the closure of its food business.

The comments were made in an market update by Woolworths Holdings, the South African retailer that owns David Jones. While they share the same name, there are no links between Australia’s Woolworths and the South African group."