'The Australian' reports on Wednesday 4 August 2021:(part of...

'The Australian' reports on Wednesday 4 August 2021:

(part of article):

"Geoff Wilson’s Wilson Asset Management has called on Myer to release a trading update as soon as its accounts have been audited so investors can gain a better understanding of how the department store chain performed before recent lockdowns in Sydney and Melbourne.

It comes after demands from Solomon Lew, Myer’s biggest shareholder, to delays its AGM and immediately provide a trading update.

Wilson Asset Management, which is Myer’s second largest shareholder with a stake of 7.76 per cent, said many other ASX-listed retailers had released updates and unaudited results for fiscal 2021 ahead of profit reporting season and Myer should follow suit.

“Like all retailers, and we are invested in quite a few retailers, it is a very uncertain time and situation and we understand there is a lot of exposure for Myer to CBD stores and so forth, we have seen a number of trading updates from other retailers in the last few months,” WAM lead portfolio manager Oscar Oberg told The Australian.

“So from our perspective the work we have done we felt that Myer up until the most recent lockdowns in Sydney and Melbourne was actually doing pretty well and we think the balance sheet was being managed appropriately.

“They have to get their accounts audited and from our perspective we would like to see how they are trading, but when it is feasible for Myer to do it, and a vast majority of other retailers have done it, and we would like to see how Myer has done.”..."