Correct - it all comes down to execution now and Mr King has had a full half to implement some of his policies such as customer first + upmarket approach. Clearance sales related business is not yet phased out and not all loss making stores have been closed down. If the execution is right that would mean it will be a smaller company - meaning, less department stores but positioned correctly and profitable.
Customer first approach in stores is critical this is what makes an "upmarket store" along with upmarket brands of course.
You expect to be treated differently in a Mercedes Benz dealership than a second hand car dealership.
Myer at current valuation has potential but as said it comes down to execution. H1 results are more or less known but guidance will be of utmost importance.
MYR Price at posting:
37.0¢ Sentiment: None Disclosure: Held
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