Myer’s Sales Continue to Disappoint Ahead of Christmas
Negative sales momentum from the first quarter has failed to subside as no-moat Myer reported declining sales in the first six weeks of the second quarter fiscal 2018. While online sales growth across Australian department stores in general, and Myer in particular, has been impressive, it has failed to offset dwindling foot traffic across the struggling sector. We lower our near-term revenue and earnings forecasts for Myer, but retain our fair value estimate of AUD 0.68 per share. Shares in Myer...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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.