****Cafe strikes a cautious note for retailers in discussing the HVN result released yesterday:
"...The Australian Bureau of Statistics reported that retail sales volumes fell 4.4% (in volume terms) in the year to September, the largest fall recorded. That was due to the impact of the lockdowns from June and July onwards and much deeper than anything recorded in 2020.
With the lockdowns easing considerably in October and this month a repeat of that record slide won’t happen in the December quarter, but a small negative reading wouldn’t surprise..."
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The Black Friday (stupid USA name!) and pre-Christmas sales are very important for retailers like MYR. I hope discounts being offered by MYR still mean most ranged items sell at a profit, and that it can clear a swathe of any excess inventory at reasonable prices.
On a brighter note, the bad publicity from an upsurge in 'cases' in Europe, and that idiotic decision by Marxist Jacinda Ardern in NZ to ban Australians visiting Kiwiland for several more months until May 2022 means fewer of us are likely to spend money overseas in the first half of 2022.
On balance, despite the lack of international tourists arriving here and spending in MYR, probably a slight positive for our company.
MYR Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
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