Myer Shocks Investors With a Raft of Bad News; FVE Cut as Uncertainty Around Strategy Increases
No-moat-rated Myer presented a series of disappointing news to the market, ranging from a downward revision of profit guidance, to impairment charges, and the departure of a key proponent of the New Myer turnaround strategy. We have downgraded our fair value estimate to AUD 0.80 per share from AUD 1.20, after considering the current trading conditions, in conjunction with uncertainties on the company’s strategic path.We lower our near-term and long-term sales growth and margin forecasts. Our re...
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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