Is Myer Holdings Set For Future Growth?

  • May 24, 2019 AEST
  • Team Kalkine
Is Myer Holdings Set For Future Growth?

Myer Holdings Limited (ASX: MYR) runs departmental store business in Australia. Myer Holdings is often regarded as Australia’s largest department store group due to its massive scale of operations.

Currently, the company is focusing on cutting down its costs which do not directly benefit the customer or enhance their experience and in order to do so, the company has placed a more streamlined and accountable structure in the Support Office which is delivering positive results. Besides this, the company has also identified various other cost saving opportunities which may be material in future years.

In the first half of FY19, its total sales were around $1,671.4 million, down by 2.8% on pcp. However, its Online and omnichannel sales were increased by 18.6% to $151.2 million in the half year period.

1H FY19 Income Statement (Source: Company Reports)

The Company finished the half year period with a net cash position of $37 million. Recently on 21 May 2019, Myer Holdings appointed highly experienced Ms. Jacquie Naylor as a NonExecutive Director, making a significant contribution to the company’s Board.

The company is focused on being more operationally efficient and it has been working with brand partners and team members to improve customer service and enhance the overall in-store experience.

In the second half of FY19, the company intends to invest in two key areas:

  1. Online business - to further improve both the customer experience and the efficiency of order fulfilment.
  2. Merchandise - to establish the new brands and to improve and expand the company’s MEBs;

As on 24 May 2019, the company’ stock has provided a Year till date return of 52.38%. Due to its strong operational performance and recent initiatives which includes cost reduction, this departmental store business has developed a positive outlook for itself.

Recently at Future Generation Investment forum, a popular investor Geoff Wilson presented its positive view about Myer Holdings and disclosed its plan for investing in this company.

At the Future Generation Investment forum, various other investors also presented their views about different companies and disclosed their plans for investmnet. Most notably among them was Adrian Warner, who shared his view about General Motors Company, American multinational corporation. Adrian Warner believes that General Motors is well positioned for future growth.

General Motors Company trades on New York stock exchange. General Motors last traded at US$35.13 with a market capitalization of circa US$49.83 billion.

Coming back to Myer Holdings, let’s take a look at Myer’s stock performance and the return it has posted over the past few months. As on 24 May 2019, MYR’s stock traded at $0.670, up by 3.077% during intraday trade, with a market capitalization of circa $533.83 million. The stock traded at a PE ratio of 18.570x. In the last six months, the share price of MYR increased by 62.03% as on 22 May 2019. It has a 52 weeks high price of $0.740 and 52 weeks low price of $0.357 with an average volume of ~3,260,663.


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