Being a supplier to major retailers i myself have yet to meet one supplier in the trade who bought myer shares in the float. I am getting mixed signals on trade this xmas some up some down..but my gut feel is trade will be up on last year a bit. say up 2% for department store sales. I still dont know how myer will get more cost savings from suppliers..and the specialist retailers are getting more and more of the sales pie. having said that myer management is not going to want to get egg on its face for this seasons trade so their result will be good..'slightly above market estimates' so agree with buffet..there is a trade in this one then out for the eventual drift down to $ 2 something when realism sets in later next year.
My own personal view..not advice..just a view. dyor
MYR Price at posting:
$3.65 Sentiment: ST Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)