Coles Myer Limited

By Intelligent Investor · 17 Nov 2000

By Intelligent Investor ·
17 Nov 2000

Sales were up 5.2% to $5.6bn in the first quarter of 2000, with food and liquor sales up 7.4% and Myer/Grace Brothers suffering a 2.4% decline – reflective of the retail climate. The company will probably make a share buyback once it completes a $700m issue of 6.5% convertible pref shares (called ReCAPS) to better manage its capital base, one reason the shares are up 12.6% since issue 65 (Accumulate - $6.83). ACCUMULATE.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

More information on Coles Group Limited (CGJ)

Coles Myer Limited

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