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1.Market Observations, 8.Was Sticky

9 May 2017 (AFR) – Myer share, profit forecasts cut as Amazon, TJ Maxx loom

(9 May 2017, AFR, p11, by Sue Mitchell)

‘Solomon Lew’s Premier Investments is $13 million underwater on its 11 per cent stake in Myer after the shares in the department store chain slumped amid concerns about the entry of Amazon and weak consumer spending. Fund managers blamed a 9.5 per cent fall in Myer’s share price to a 12-month low of $1.00 on a report by broker Credit Suisse and growing unease about the strength of …’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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