the whole Chanticleer article was a bit crap in my opinion. Premier is a different business model. Premier benefits from the premium associated with brands and is not a dept store model whereby you source products from all sorts of brands and resell them. He has a point though that the margins were better back in say 1999. It goes to show that Myer indeed has a long way to full recovery and I am pleased that I am given the opportunity to invest NOW, and not when its EBIT doubles from here. He obviously would trash talk Myer as much as possible so he could get more shares cheaply. I wouldn’t mind that Myer gets help on margin improvement from Premier representative, however the new director should demonstrate his value through continuous improvement in profits and share price.
MYR Price at posting:
58.5¢ Sentiment: Buy Disclosure: Held
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