Myer Result In Line After a Weak Transition Year, With Improvements Promised for Fiscal 2017
Myer reported underlying net profit after tax of AUD 69.3 million in fiscal 2016, in line with company guidance of AUD 64 million-AUD 72 million, as well as consensus and our estimates. Total sales of AUD 3,290 million were up 2.9% year on year, but after adjusting for the 53 trading weeks in fiscal 2016, total sales were up just 1.6%. This is well short of the company’s five-year target of increasing sales by over 3% per year on average. Myer’s flagship and premium stores in New South Wales and...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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