ANZ's economic update released on Thursday 21 December was downbeat for non-food retail spending in December 2023 (with exception of entertainment such as concerts, and some dining), but Paul Zahra of the Australian Retailers Association claimed spending was good on items such as handbags. 'The Age' online today claims that foot traffic is down for Christmas, but this is attributed to shoppers instead stocking up during Black Friday sales.
MYR issued a trading update on 24 January 2023 for the five months to 31 December 2022, even though 1H is until 31 January each year.
If it acts similarly for the first five months of 1H 24, we'll know in not much more than a month how Black Friday, pre-Christmas and Boxing Day sales have gone.
While the CY is yet to finish, it may be a good sign (or neutral) that MYR hasn't announced to the ASX that 'sales have dropped 10 per cent (by value) or more').
MYR Price at posting:
61.5¢ Sentiment: Hold Disclosure: Held
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