Myer Holdings Ltd (ASX: MYR)

New appointments and management restructure:Myer Holdings Ltd (ASX: MYR) has announced a management restructure to create an integrated business with an aim to capitalise on shifts in the retail landscape with regards to rapid digitalisation. Mark Cripsey has been promoted to COO, who will report to Myer CEO and Managing Director, and will look after online business and data analytics as key areas. Further, Nigel Chadwick has been appointed as the CFO with effect from 29 January 2018. The group is also making some changes at its Support Office level.
 
The New Myer strategy has been a five-year turnaround plan and the company is focused on the long-term transformation that will further strengthen the business to compete. Meanwhile, MYR stock has fallen 13.42% in three months as on January 18, 2018 at the back of Q1 FY2018 results wherein the total sales were down 2.8% and comparable store sales were down 2.1%, compared to the previous corresponding period. The sales and profit have fallen further after a subdued Q1 performance. MYR expects 1H 2018 NPAT (pre-implementation costs and individually significant items) to be materially below the previous corresponding period.
 
Given the challenges, many believe that a takeover offer from players like Premier Investments Limited (ASX: PMV) might help the group. While Myer is aiming to uncurl the issues of the past (stock price still down 1.5% in last five days, as at January 18, 2018), we have a “Hold” recommendation on the stock at the current price of $0.64

Disclaimer
 
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.