Eric Johnston is business editor at 'The Oz' and seems sagacious.
This article will be in the paper tomorrow and discusses whether "falling house prices will be the factor that finally breaks retail sales."
The two paragraphs of relevance to MYR are:
"...Then all eyes will be on Myer – the big barometer of discretionary spending. Any change to what had been shaping up as a strong sales performance leading into Christmas for the department store will trigger an earnings update toward the end of this month...
...A month out from Christmas Myer chief executive John King said the retailer had “good momentum”, with record sales since the start of the financial year and into Spring. King has previously told The Australian he plans to use every lever available from the popular Myer One customer loyalty program to drive sales through the first half of this calendar year."
MYR Price at posting:
71.0¢ Sentiment: Hold Disclosure: Not Held
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