Ann: Q2 Trading Update, page-221

Myer at 30 cents...yes please

Billabong is still a basket case but trading at 95 cents.
MC at $190 million .....was a bargain at 10 cents.

Myer is in much better shape than BBG.
Myer isnt loosing hundreds of millions.

At this stage MC is $500 million
Well below fair value for this Aussie Icon.

Of course the right leadership is required.
Macys and Bloomingdales are still managing.
Its not easy to sell the same goods at a premium
When other stores sell at a much lower price.

Myer require a few high quality ranges
and sell at a price other stores cant match.
Maybe they need to invent them instore.
Anyhow I am confident those that bought
under $1 will make money in the future.

Cheers