Umbers announced 5% below previous years First 2 weeks in December.
There has been quite a large reduction in overall floor space since last year , I think its 11% reduction of floor space.
But Sales were down 5% in the first 2 weeks of December,
Myer is largely carried by a few stores that do bumper sales like Burke Street and Chadstone etc.
Myer pays 230 million in rents so, negotiating some reductions there would be a major boost.
I wouldnt be expecting any news until Febuary for many stocks because of the light volumes this time of year.
Christmas time tends to have bumper sales, HVN finished the week on a high and Myer has almost finished the week on a high but a green week none the less.
Dow has crashed through the Ceiling and the ASX will follow it up. This should lift 8/10 stocks and from these levels even a sombre recovery in the MYR chart gets it back to test $1-
MYR Price at posting:
66.0¢ Sentiment: Buy Disclosure: Held
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