MYR General Discussion, page-79

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Hopeful9

11,137 Posts.

1471

10/12/23

08:18

Post #: 71367434
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Originally posted by mrriesq: ↑

Awesome analysis, thanks!

Quite remarkable that Myer had as many visits as Harvey Norman, The Good Guys and Kogan combined. Particularly when HN and TGG seemed to have a lot of advertising during that period in both print and media, and Kogan are famous for "spamming" emails and txts constantly.

It's definitely a 2 Speed economy out there. We hear a lot about people struggling, but if your mortgage is under control and you have a job you are probably going quite well, and if you don't have a mortgage and you have cash and investments you are probably doing quite well.

There's still a bit of lagged demand from the Covid period as well. I was in Myer a few weeks back and the luggage section was looking busy, mostly older people buying new suitcases for holidays they hadn't taken over the past few years. Bet a lot of them bought new travel clothes also.

Could be a good year for Myer dividends if they can keep costs under control. A few of the savings from rent reductions and closing the underperforming stores should start rolling in also. Being net cash they should also be earning some interest, I guess. That's definitely different to a lot of my other investment, lol.

Expand

Thanks. I'd like to know how many of MYR's stores are not performing well, and have been even pre-COVID.

Given lease obligations, it isn't easy to reduce the number of MYR stores or decrease the amount of square metres in a particular store.

That's my major caution, given we must consider negatives as well as positives.

But website visit numbers are a good sign, assuming with the costs of packing (including increased labor costs) and delivery, each sale is profitable.

MYR Price at posting: 57.5¢ Sentiment: Hold Disclosure: Held
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MYR General Discussion, page-79

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MYR General Discussion, page-79

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