If 2% decline in sales means a Store should be closed then it shouldve closed already.
Surely a 2% move isnt keeping a store afloat, the profit rates would need to be better than that.
IMO just your average Joe would be able to sort out whats working and whats not.
Retail is like shooting fish in a barrel. You put out the stuff people want to buy at the price they want to pay and people walk in and buy. Its that simple.
The things that are working, keep doing. the things that arnt working need to be revised.
Id say there is just alot of dead wood in Management and Staff.
Id be doing some Hiring and firing if I was the CEO. Until the team Ive got is delivering the results required.
Id say that Solly Lew can see about 50 things he'd suggest changing on Day 1 that he is allowed onto the Board.
If Myer let Solly on the Board, add 25c per share first day.
I can see MYR possibly hitting 50c, but I can also see it recovering from the deliberate and planned sell down. Back to $1.50.
Soon The Shorting game will be Cooked, no money left to make on the short side.
The Company is earning 10% net Profit, Debt is reducing, The turnaround and multibag recovery planned in advance will soon turn. Possibly 50c who knows.
But one day Myer trading back at $3.50c is very possible one day.
Above $1- is highly Probable.
MYR Price at posting:
65.5¢ Sentiment: Buy Disclosure: Held
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