In the words of Conor McGregor... "Who the **** is that guy" ^
I am welcoming a mix up and clean out of current management. Richard Umbers became CEO in early 2015, he has spent $600m that's right $600m on enhancing their online platform, improving stock turnover, and the acquisition of TopShop.... Guess what, they all failed. Online platform is subpar and TopShop was written off. That $600m is more than the current market cap of Myers. This is the reason why little have faith in management. I see it as a disaster and the market does too, hence the $0.65c share price which is down from $1.50.
Furthermore, a recent survey of Myer customers revealed "less than 30 per cent of customers agree that Myer has a good range of brands, less than 15 per cent felt staff were available and helpful and less than 20 per cent enjoy shopping at Myer".
You still want them in?......
MYR Price at posting:
64.5¢ Sentiment: Hold Disclosure: Not Held
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