Well, the Myer prospectus is now available from your friendly broker!
Before dismissing it out of hand as another Feltex, I'll be having a hard look at the numbers. Once I get past the cover (Jennifer? Hawkins ) that is.
;)
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Well, the Myer prospectus is now available from your friendly broker!
Before dismissing it out of hand as another Feltex, I'll be having a hard look at the numbers. Once I get past the cover (Jennifer? Hawkins ) that is.
;)
Michael Pascoe, Brisbane Times, isn't too keen on it!
http://www.brisbanetimes.com.au/busi...0928-g8jk.html
This float will a great success .... you really need to try your best to get some .... like my wife has a Myer Card but we found an Aussie address to use so she'e registered
Irrespective of the valuations and all that sort of stuff high demand assured ..... and the shareprice will be higher post float ..... maybe mightn't want to be holding in a years time but thats another story
Goodwill close to a billion ... surely Jennifer is worth more than that
Will be interested in looking at the numbers.
Can someone be kind enough to post up the numbers comparing to other retails in its sector?
Are they retaining any cash raised for growth or is it all going in the pockets of private equities?
I don't think it's that easy, doc.
The only comparison really is with David Jones and that's not completely apples for apples, as DJ's is more upmarket than Myer.
To make it harder of course the float price is an unknown between $3.90 and $4.90, depending on the tender.
I'll be spending a bit of time on it tomorrow, all going well, but don't feel too confident about coming to too firm a conclusion so will probably give it a miss. Best to access the prospectus and DYOR, I reckon.
I heard David Jones' Mark McInnes say that Myer will be carrying something like 4 times the debt of DJs.
I was at Myer Carindale last week in the ladies apparal area (with my wife). The wall mounted fixtures where the outfits hang from was very dirty.
Best place to check to see what sort of pride the staff have in their store is in whitegoods...have a look on top of the fridges for dirt and dust.
I don't know a great deal about Myer, apart from trailing along behind my wife through stores on visits to Aust, but whenever IPO's come up these days I keep reminding myself that Warren Buffet says he never touches them. And when I have dabbled in the past I have usually found that, once the managed after-float is out of the way, nothing too exciting happens. Of course there are always exceptions to the rule, and we could all name some, but I would claim that generally there is greater reward to be obtained when one concentrates on sniffing out undiscovered potential from existing listed shares. And where the seller is a private equity fund I would be doubly cautious.
Here is the guts of that sky interview I mentioned above.
http://news.smh.com.au/breaking-news...0928-g7zj.html
This is what happened when Texas were involved in giving a big retailer back to the public
http://finance.yahoo.com/q/bc?s=DEB....=on&z=m&q=l&c=