Very topical comment Mareed, as the 11 July 2023 "June"...

Very topical comment Mareed, as the 11 July 2023 "June" Commonwealth Bank household spending intentions report features on page 3 of this morning's 'Herald Sun' in Melbourne.

It doesn't mention 'department stores' as a subsector to be hit by lower likely spending, unlike health and fitness (gyms) and perhaps surprisingly in view of the constant suggestions (as 'HS' mentions) that 'everyone is in Europe', travel.

I'd like to see the full report but it's not yet available on the CBA economics site. Nor is there a media release. No doubt media receive it in advance so CBA gets publicity.

While I am worried about the forthcoming recession and the politicisation of the RBA by Labor and what international money markets will think as our inflation continues at a high level, the thought has occurred to me that many MYR shoppers may be in groups not that concerned about limiting spending (such as self-funded retirees who have term deposits).

If anyone doesn't know, the weekly MYR online (and in-store!) 'Home Sweet Home' Tuesdays sale is fantastic. I have to buy more items for forthcoming Philippines, European and UK travel so off to MYR Melbourne I will go. Have a look today at the site: MYR has items not found in WOW's Big W, WES' Target/KMart or Catch, or listd KGN and unlisted Amazon.

MYR is incredibly reliable. Not once have I had an online item ordered go astray. My only gripe is that sometimes the Melbourne city store lacks some advertised items, and may not have had them in the first place, peeving as I prefer when I can to purchase in-store.

Like many, I am weighing whether to again purchase MYR scrip, as the company seems well run, and is presumably benefiting from Mr Solomon Lew's lieutenant on the Board. These two have retailing expertise in spades even if at times they've been at loggerheads with MYR's female Chairman. MYR remains a takeover target from Mr Lew's perspective. He can't have failed to notice the cash MYR has had on hand, and how well the soon to depart Mr John King has run it. The shop seems shipsake!