things couldn't get any worse for cml? i have heard that many a times before yet things actually end up always getting worse. they seem to be priced around 22 times next years earning which is by no means cheap i would think even if the stock has fallen recently. why will coles myer win back the customers they have lost by having 2 staff chatting to each other on the entire floor with no one else around to help! (maybe i am exaggerating), and then making their myer stores more resemble kmart & vice versa, and now everyone has found their own specialist stores to go to eg. rebel for sporting goods, harvey norman for electricals/furniture etc. I fail to see how they are going to turn things around quickly, just because Fletcher gets appointed does not mean shoppers will suddenly come running back. given their track record a p/e of around 17 may be more realistic rather than soemthing near where harvey norman trades at (which has an exceptional record of growth). therefore that could see the stock below $5 maybe even much lower if negative sentiment further kicks in.
CML Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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