Ann: FY20 Results - Release and Presentation, page-31

What did people expect though, with Victoria being what, 22% of National GDP, and the reliance on tourism/students for foot traffic et al. the lockdown is decimating Myer.

EBITDA being down is more a reflection on the broader market impacts. The question we're asking is, is Myer going to position itself to ensure it rides out COVID and doesn't collapse on the way out of it.

Based off that, I like that they have finished the period with a net cash position of $7.9 million representing a $46.6 million improvement on the prior year and think that's a positive for long term prospects of Myer.

Instead of relying on Myer's commentary and reporting, I will be looking to government policy, and the broader market to determine my valuation for Myer.

I'm more inclined to err on this side of reasoning, and today presents itself as an LT holder buying OP