After John King bought 100,000 units. 3 big companies invested lump sumps of $$$ into Myer (MYR)
14/9 Wilson Asset Management 44,802,054 units -5.46%
18/9 Credit Suisse 48,992,370 units -5.97%
21/9 Vinva Investment 44,794,586 units -5.45%
King has great confidence that Myer can turn its situation around, while rebuilding pride and relevance into the brand. ‘With Myer team members, brand partners and suppliers, I will ensure we’re providing customers with the service, brands and products they want, and expect, from Myer; whether that be in store or online.’
Myer opening its Hobart store, shows that it is keen to grow its brand while maintaining its exposure as much as possible. The store takes up more than 12,500 square metres, and features five floors of fashion, home appliances and entertainment with plenty of brands. King will continue analysing the stores, while implementing his customer strategies.
For fiscal years 2019 and 2020, analysts are estimating that average annualized growth will increase to 4.88%.
MYR Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
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