{"id":62760,"date":"2014-10-29T14:05:32","date_gmt":"2014-10-29T18:05:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=62760"},"modified":"2014-10-29T14:05:32","modified_gmt":"2014-10-29T18:05:32","slug":"why-the-myer-share-price-rose-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/why-the-myer-share-price-rose-today\/","title":{"rendered":"Why The Myer Share Price Rose Today"},"content":{"rendered":"
October 29, 2014<\/div>
\r\n<\/div><\/div>

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

The share price closed 1.88% higher on Wednesday. <\/p>\n

Why Did This Happen to MYR Shares?<\/h2>\n

Since hitting a 2014 low of $1.765 last Friday, Myer\u2019s share price has recovered a little over 4%. It could be because it is racing season in Melbourne. Myer has prominent displays all over the Caulfield and Flemington races tracks, so the stock may be in investors\u2019 minds. <\/p>\n

However, its\u2019 more likely that investors are looking for a bargain and think Myer is a trading at a cheap price. <\/p>\n

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

It\u2019s been a miserable year for the department store shareholders. Year to date the stock is down 30%. But it\u2019s worse for those who were caught up the in the initial public offering hype. Since listing, Myer shares are 49% lower. <\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

The department store has changed their tagline this week from \u2018My Store\u2019 to \u2018find wonderful\u2019. It\u2019s the first rebrand for the store in almost a decade. The top levels of management will be hoping this new slogan is enough to drive consumers back into stores\u2026and the share prices higher.<\/p>\n

Myer has continued to disappoint the market. <\/p>\n

By the CEO\u2019s own admission, they\u2019re still playing catch up. Myer may seem cheap. And there\u2019s also a chance that all the bad news is fully priced into the stock for now. <\/p>\n

But don\u2019t be fooled into thinking it\u2019s a bargain. Christmas sales are a key period for the retailer, so watch out for the results in January next year. In additional, there\u2019s still a very strong chance the company will report a net loss for the 2015 financial year. <\/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 The Myer Share Price Rose Today<\/a> appeared first on Stock Market News, Finance and Investments | Money Morning Australia<\/a>.<\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n


\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-62760","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62760","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=62760"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62760\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}