Thanks for the replies Traders, I must admit Myer hooked me, I...

Thanks for the replies Traders,

I must admit Myer hooked me, I didnt understand the numbers in real terms thats why I started this thread.

Some good posts on here now for others to learn from.

The key main factor that is the scary part is the next half year could be very negative from a net profit perspective.

Christmas is the cash cow and now Hounsell wants discounts that will lower the margin a bit.

There is about 6 ways Myer could turn, one is re-neg rent costs, or take in sub leases.

But I cant see how it could turn fast because every section of the Company needs a rebuild,

Strategy, training, stocklines. Plus no credible CEO would take this on as it is, because they would lose all their carreer of credability.

Umbers lost Cred, but he walked away with millions,

A new CEO could enter for 10 weeks and be dumped on his head in a TO with a few grand in his pocket and a decimated credability profile. The best and brightest wouldnt take the job unless it was a 5 year contract on 1m per year and must be paid out if sacked or TO.

So I reckon the Limbo will continue until the SP gets low enough to nudge Lew or Whatever.

I just dont know enough about this, I didnt expect it to dump like this and I didnt expect 35% reduction in real net profit.

Once I realised the 2nd half could kill Myer, its just a gamble here.

Its not a yield play anymore, its risking 100% of your entry for mabe 10c or 20c upside that is possible but unlikely.

For me the SP needs to be at a price where I accept that 100% is at risk vs the upside of a TO offer.

I cant pick it now, at 20c could be worth a punt, but bear in mind could lose all,

I just dont know what happens next for MYR.