Short squeeze

Shortman says short positions now 15.35% of cap.

I think they're nuts: 6% ff dividend and P/B .65. How much lower do they think it can be driven?

IMHO they are begging for a short squeeze, by Solly or some smart traders.

Perhaps what we are seeing today is a classic short-squeeze, +4.5c or 5.3% . They must be sweating.

Full year results aren't out until mid-September. On 11 May, MYR did confirm half year guidance which said:

"FY2017 Outlook Sales in January and February were below expectations with January being the low point. Based on the expectation that those conditions do not return, Myer still anticipates EBITDA growth to exceed sales growth in FY2017 and increased NPAT (pre and post implementation costs) over FY2016.

While these are modest targets due to weak consumption spending, they are enough to support the dividend.

The Amazon death-spiral story is bull as well. It might oblige MYR to adjust it's offering, but that should be happening anyway. Imagine an ad campaign: "See it. Feel it. Try it on". Amazon can't do that.

Ash