You mean the 5 Year strategy that they have changed after just...

You mean the 5 Year strategy that they have changed after just one year (reducing their targets and bonus goals) because they got it wrong?

This latest trading update shows that the strategy is not performing. Given the last paragraph of this update, I would am surprised the share price has held up so well in today's trading. The paragraph reads, with my emphasis: "A significant proportion of annual NPAT is generated uring the second quarter. Myer expects 1H 2018 NPAT (pre implementation costs and individually significant items) to be materially below the previous corresponding period. Given the recent sales volatility and considering the magnitude of sales expected in the coming weeks, Myer dows not have a reasonable basis to provide a specific profit range for the half or full year at this time."

Anyone who has been around knows that these sort of announcements are significant. The H1 results will be the litmus test - some bad cashflow and profit there could well be the trigger point for the share price. They saved the best paragraph for last and tried to keep it light. I like how they talk about "sales volatility" and not "sales reductions".

A few other things I have noticed with MYR - their intangible assets are significant, so a write-down may occur at some point. They would be putting any cost they can into the "implementation costs" to help out their normalised profit. Little debt is of a huge benefit right now.

Plenty of "good" businesses have failed in spite of a good name or having been around for a long time. Leaving aside the Amazon and other online risk, MYR needs to improve and it just isn't happening. If you own shares in MYR now, don't expect a smooth ride.