Disruptive forces finally caught up with Myer
After Myer’s (ASX: MYR) announcement last Friday it has been revealed they have had a very tough time in the 6 months to January 2018. Earnings are likely down around 40 per cent to sub $40 million on a 3.6 per cent decline in Revenue.
Myer’s last Friday’s announcement revealed the company had experienced a very tough January 2018 half-year. The most worrying piece of information, Myer does not anticipate any improvement in retail trading in the July 2018 half-year. Share on X
Chief Executive Officer of Montgomery Investment Management, David Buckland has over 30 years of industry experience. David is a deeply knowledgeable and highly experienced financial services executive. Prior to joining Montgomery in 2012, David was CEO and Executive Director of Hunter Hall for 11 years, as well as a Director at JP Morgan in Sydney and London for eight years.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Yasir
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There is no easy way out of this for Mayer, outdated departmental store model no longer working for them, they should have known the change is coming, their brand does not appeal Gen Y, listen to conversation Gen Y fashion lover they do not mention Mayer. Closing store means, cancelling the lease, cancellising the lease before expiry date, may translate into hefty court costs.