Coles Myer and its bitter rival Woolworths have management problems that their good news on profits and capital management cannot hide forever.
At the moment, investors are looking to the announcement of Coles Myer’s half year results tomorrow to reveal good profits (which they will), capital management moves like a $1 billion buyback (which they will), and some news on the future direction for Myer and its CEO, Dawn Robertson (well who knows?).
But while chairman Ric Allert and CEO John Fletcher will look good revealing profits, talking about forecasts and luxuriating in the capital management moves, which are six months late, the smarter investor will want real information on whether Myer can be saved or deserves to be saved, or whether it should be shaken free. The full story is on our website here.
Crikey is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while we review, but we’re working as fast as we can to keep the conversation rolling.
The Crikey comment section is members-only content. Please subscribe to leave a comment.
The Crikey comment section is members-only content. Please login to leave a comment.