Selling extra Nutella one Christmas won't make the fortunes of a department shoe chain. I visited Myer Doncaster Vic a couple of times through the big season and concluded we have enjoyed a 'reasonable' Christmas - not crazy nor the ghost town it was a few years ago.
I hold that retailers need a very liberal amount of cash and current assets, without encumbrance, to be successful.
I wonder whether the big cash injection in the Capital Raise which brought in $221m in September was early enough for MYR to negotiate good deals with suppliers and give their talented (I hope) buyers the freedom to take good risks on customer behavior.
Does anyone have a view on how Christmas went for MYR this year?
GLTA
MYR Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
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