{"id":60281,"date":"2014-09-12T10:19:38","date_gmt":"2014-09-12T14:19:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=60281"},"modified":"2014-09-12T10:19:38","modified_gmt":"2014-09-12T14:19:38","slug":"why-did-the-myer-share-price-fall-again-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/why-did-the-myer-share-price-fall-again-today\/","title":{"rendered":"Why Did the Myer Share Price Fall Again Today?"},"content":{"rendered":"
September 12, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What Happened to the Myer Share Price?<\/h2>\n

Myer Holdings Limited [ASX:MYR]<\/strong> is an Australian department store retailer currently with 66 stores across Australia. Two more are rumoured to be opening next year. The department store offers fashion and apparel for men, women and children. They also sell cosmetics, accessories, homewares, furniture and electrical goods.<\/p>\n

Myer closed down on 6.28% today.<\/p>\n

Why Did This Happen to the Myer Share Price?<\/h2>\n

Yesterday, Myer announced a net profit after tax (NPAT) loss of 23%. They also cut the final dividend to 5.5 cents. The final dividend in 2013 was eight cents.<\/p>\n

Myer closed yesterday 12.96% lower. Partly because of the size of the losses, but mostly because the company didn\u2019t issue profit downgrade warnings during the year to investors.<\/p>\n

What Now for Myer?<\/h2>\n

If you\u2019re a shareholder that hasn\u2019t got caught up in the selling frenzy, then duck and cover. <\/p>

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Clearly, investors don\u2019t like CEO Bernie Brookes\u2019 vision. Brookes has said over the past two days that Myer<\/strong> has invested heavily in store layouts and an enhanced customer experience. Which is why the losses are worse than previous years.<\/p>\n

By its own admission, Myer is playing catch up. Brookes was quoted in the Australian today saying \u2018Some elements are catch-up (spending) and some of it is putting us in a position to deliver what customers want.\u2019<\/p>\n

In addition, the Age and the Australian have said Myer is a potential takeover target. Both papers suggest Myer is now oversold and yielding 6.7%, making it a worthwhile investment.<\/p>\n

Myer isn\u2019t a bargain stock just yet. But that won\u2019t stop some investors trying to snap up Myer next week, believing it is oversold.<\/p>\n

Now if Myer is a takeover target, any corporation would be looking to pick up the business cheap given that the Myer is heavily geared.<\/p>\n

Let the dust settle on this one and wait and see what 2015 first half financial results look like. I\u2019m still not convinced it\u2019s a worthy investment.<\/p>\n

Shae Smith+<\/a>
\nEditor, Money Weekend<\/em><\/strong> <\/p>\n

Join Money Morning on Google+ <\/span><\/a><\/strong><\/p>\n

The post Why Did the Myer Share Price Fall Again Today?<\/a> appeared first on Stock Market News, Finance and Investments | Money Morning Australia<\/a>.<\/p>\n

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\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What Happened to the Myer Share Price? Myer Holdings Limited [ASX:MYR] is an Australian department store retailer currently with 66 stores across Australia. Two more are rumoured to be opening next year. The department store offers fashion and apparel for men, women and children. They also sell cosmetics, accessories, homewares, furniture and electrical […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-60281","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=60281"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60281\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=60281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=60281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=60281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}