Myer sinks to half billion kitchen sink loss of

Wednesday 12 September 2018

From Myer this morning:

That’s your classic “throw in the kitchen sink” loss of the a new CEO.

Yet even accounting for this, the new strategy is very unconvincing in cutting costs while boosting service…hmmm…Add the macro outlook of headwinds for retail as house prices keep falling and MYR still looks like a disaster waiting to happen.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.