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Now Myer braces for DJs comparison

Nov 03, 2009 (The Australian Financial Review - ABIX via COMTEX) -- By Sue Mitchell

Company: David Jones Ltd. (DJONF)

David Jones is forecast to post a four per cent increase in sales for the three months to 31 October 2009. In contrast, Myer anticipates sales growth of just 3.1 per cent for this period. The sales data will put more scrutiny on the valuation of Myer shares in its recent IPO. Some fund managers believe that the issue price of $A4.10 was too high. Myer shares fell sharply on debut on 2 November, but closed $A0.06 higher at $A3.81 on the following day.

Publication Date: 4 November 2009 

DAVID JONES LIMITED - ASX DJS
MYER HOLDINGS LIMITED - ASX MYR
CONSTELLATION CAPITAL MANAGEMENT LIMITED
GOLDMAN SACHS JBWERE PTY LTD

Copyright (C) 2009 ABIX. All rights reserved

News Provided by COMTEX

Company: David Jones Ltd. (DJONF)


Related terms: ipo, sales

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