Myer’s Interim Results Mixed; Sluggish Sales Growth Offset by Productivity Gains
No-moat-rated Myer reported a decline in sales in the first half of fiscal 2017, ended Jan. 28, 2017. However, this was offset by productivity gains that led to the first expansion in EBITDA margin in five years. We maintain our fair value estimate of AUD 1.20, with shares currently trading at a discount of 10% to our intrinsic assessment. A fully franked interim DPS of AUD 0.03 was declared.Net profit after tax was AUD 62.8 million, up 5.3% over the previous corresponding period. Headline sa...
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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