Ann: Half-Year Results - Release and Presentation, page-2

The increased earnings per share for the half year of 5.3cps compared to 3.0cps for the same period a year ago is interesting, as is the rise in net profit, the latter up by 8.4 per cent.

Decreased inventory is a good sign, but there can be no doubt that the Melbourne 100+ days of lockdown, and lesser period where there was a curfew, plus a disastrous five kilometre travel restrictions and MYR store closures had a major adverse effect.

CBD stores down 32 per cent in sales but overall sales down 13.1 per cent tells us that MYR suffered badly from reduced foot traffic in CBDs, especially Melbourne and to a lesser effect Sydney, Brisbane, Perth and Adelaide. Sales were up more than six per cent if CBD stores were excluded: this is great!

The handing back of a floor at Melbourne's Highpoint and Morley in Perth's suburbs is evidence of CEO Mr King where he can, aggressively attacking costs.

I'd like to know more about online sales but from the brief detail provided, it appears they are profitable.

Those of you who are accountants or better at financial analysis than me: is the claimed increase in cashflow valid and helpful?

The huge rise in MYER ONE members must be viewed as very positive.