The march to online shopping is leaving Myer struggling to adjust to a new competitive landscape.
No-moat Myer’s underlying net profit after tax of AUD 40 million in the first half was in line with our estimate and company guidance provided in February 2018. Our underlying fiscal 2018 EPS forecast of AUD 0.05 and our AUD 0.66 fair value estimate are unchanged, with shares screening as undervalued. Key news items in the results announcement were the size of the anticipated impairment and the suspension of the dividend. The noncash impairment of AUD 525 million before tax was within the AUD 60...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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