Gains from New Myer Strategy Expected to Be Offset by More Competition (Corrected)
We maintain our no-moat rating on Myer, owing to the increasingly intense competition from online and international specialty retailers, such as clothing labels H&M, Zara, and Uniqlo, or cosmetics chain Sephora. Our fair value estimate of AUD 1.20 is unchanged, and the stock is currently trading broadly in line with our intrinsic assessment.We expect Myer’s recent positive sales momentum to have continued into the December quarter of fiscal 2017. Comparable sales were up 1.6% in the Septemb...
Myer Holdings is a department store group, with more than 60 stores across Australia. Co. also owns Australian womenswear designer brand, sass & bide.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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