On 30 November 2018, Myer Holdings Limited (ASX: MYR) published the presentation of their chief executive officer or CEO which was addressed to the shareholders on Australian Securities Exchange or ASX. As per the presentation, the company has been mainly focusing on enhancing the experience of the customers as well as improvement with respect to the website. However, the company is also mainly focusing on providing value for the money. Updating the stores as well as facilities, deployment towards the training purposes as well as incentivizing the members of the team would mainly support the company’s initiative of enhancing the customer experience. Moreover, coming up with new fashion as well as beauty services, increased concentration towards the sales which are profitable as well as simplification with respect to the promotion, price, as well as offer communication, might primarily support the company’s initiative of providing value for money.
Also, advancements to a website of the company are expected to be primarily achieved by improving the user experience, enhancing the search options as well as enhancing the merchandise representation. Moving forward, the company is expected to primarily focus towards lowering the costs, enhancing the cash position, aiming towards the customer first plan as well as towards garnering the profitable sales. On November 30, 2018, Myer Holdings also stated that in May 2018, it made an announcement that when the FY 2019 starts, the company will not be publishing the data related to the quarterly sales. Earlier, the top management of the company had also stated that they would be working towards profitability and that the company will not be working for the sales which are unprofitable just because these could lead to favourable momentum in the sales figure. It seems like the company has a favourable outlook in regard to its online business as it stated that this business happens to be the significant asset.
The company has witnessed favourable response with respect to the new website and stated that the customers are also witnessing improved as well as better experience. The company also stated that despite its decision of not working or chasing the sales which are unprofitable, its total online sales witnessed the rise of 28% on the YoY basis in the month of November. The company also reflected its focus towards the board. Moreover, it is of utmost importance that the company possess the board members who are having strong experience as well as which are highly skilled.
The stock of Myer Holdings ended the day on the positive note. The stock price of the company settled at A$0.455 per share which implies that the stock has witnessed an intraday rise of A$0.025 per share or 5.814%. The market capitalization of Myer Holdings amounted to $353.15 million, and the stock price of the company is trading towards the lower range. The annual dividend yield of Myer Holdings is 4.65%.
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