The real reson retail struggles throughout the year, is everyone buys cars and pays any price, owns it for 3 years and has to trade up for no reason. The paid 20k and are happy to sell after 3 yrs for 6 grand.
Most people are so dumb, in 10 years they can trade up 4 times, losing 15k average per trade up on the car, and phone etc etc.
People pay 16k for a commodore and 2yrs late sell it for 3 grand. Most people are financially illiterate.
Priority is for car, phone, bills etc. Thats why basic retail struggles. But Holiday times like now the rules go out the window.
Myer will do most of its yearly sales from now until January, and then the back to school, back to work sales.
Then in Feb will be Crickets Chirping again.
But IMO Myer is set up now from a low base , could run 50% or more.
Sure could have a lower low in 2018. But overdue for a P+D.
Be ready for it, All IMFHO of course
MYR Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held
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