This is starting to look really interesting. Could this mean that Solly Lew can no longer just patiently sit and expect to pick up another 3% on the creep and eventually gain control ?
We will get the FY22 results in another couple of weeks and so shareholders should get a better idea of the financials and an update of how well their online trading and store rationalisation program are proceeding. The imminent roll out of Myer’s new distribution centre is another milestone for the Group so management commentary on that should be useful.
I like the Myer brand and some of its recent digital advertising looks quite sharp. Speculation about David Jones is getting some media attention but for me, the Myer investment case can be simplified down to strong brand, strong financials, a great omni channel with imminent new distribution centre and a very focused management delivering on a turnaround story.
MYR Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
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