Subject to a more detailed analysis, at face value this seems good despite the numerous headwinds with constant lockdowns or State border travel restrictions from the three Labor Premiers (Vic/Qld/WA) and not quite as bad, two Liberal Premiers in SA/Tas in that order (Gladys Berejiklian in NSW was the exception in 2020-21, delivering far more economic and social freedoms).
Online sales in 1H 21 were $271m IIRC, so $539.5m for FY 21 means in the traditionally weaker second half, online was $268.5 million. That's very good given that 1 February to 31 July misses pre-Christmas spending.
Can we thank one Mr Solomon Lew for this update?Initially on 12 August 2021,
"Mr Market' has liked the update as SP has gone back up to A$0.49.Having used the MYR online site multiple times and been shopping in Myer Melbourne frequently in 2H 21 when Daniel Andrews doesn't impose lockdowns, the service at MYR is great so it's pleasing that the retailer overall is profitable, though I'll leave it to others to determine if 'that's enough'.
MYR Price at posting:
49.5¢ Sentiment: Hold Disclosure: Held
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