Myer: Interim result 2016

Myer’s half-yearly results confirmed the turnaround has begun although there’s some way to go yet.

Upon upgrading Myer last year, we said the stock was ‘excellent value’. Today’s interim result suggests the department story group is not the basket case the market had been assuming. New management with new ideas and a new strategy is already making a difference although – before we get carried away – it’s still early days.

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