A good Christmas and New Year period should be a Watershed moment for MYR. After February when another store is closed MYR should be at a point where the lease liabilities are looking pretty healthy with under-performing locations having been either downsized or closed entirely, much of the office space handed back leaving what's left mostly being sites with a healthy level of profitability (some more space to either sublet or hand back but well in progress). Results of this FY will be hindered by overhang from this and the continued investment in the turnaround, but next FY should be the first year where we will see the potential of the new MYR, I would expect that it will also be the year in which the dividend is re-instituted which has been a long time coming.
MYR Price at posting:
51.0¢ Sentiment: Hold Disclosure: Held
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