Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 9 February 2018

Retail deflation claims another scalp

Shorters find wonderful

Just another example in the seemingly endless line of retailer disasters.

Today came an atrocious trading update from Myer (ASX: MYR).

The share price plumbed new depths at under 59 cents, down another 9 per cent at the time of writing.

Here's a photo or three from Werribee today.

Takeover looking possible/likely/probable, so shorts beware.

Much more where this came from as Amazon gets up and running.

Retail deflation continues...

The Reserve Bank said in today's Statement on Monetary Policy (SOMP) that it sees inflation maybe getting back to 2¼ per cent by June 2020 (!).

Well, best of luck with those rate hike calls anyway!