MYR at a share price of 45 cents and market cap of A$340 million represents so much value that it's almost laughable.... we are talking about a business which generates A$3.1 billion dollars in sales annually, is profitable in normal circumstances and generates approximately half of JB Hifi's total sales which has a market cap of $2.8 billion. Different business yes. But different why? The way it's run and managed. JBH better run. MYR not so great over the past 5 years.
2.6% of all retail trade in Australia comes via MYER sales. ($120b annually across Australia)
Or put a different way. $2.60 of every $100 in sales in Australia is spent at MYER.
How many business have this kind of footprint? Not many.
New more flexible debt arrangements, invigorated board and CEO with retail experience provides a fantastic setup for Myer to beat expectations over the next few years.
For disclosure whilst I'm not buying any more shares at this time. I do hold a large chunk.
MYR Price at posting:
44.8¢ Sentiment: Buy Disclosure: Held
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