Myer Shares Hit a Record Low

Submitted by Share Market Writer on 29 December, 2011 - 13:33

This isn't the season that retailers were waiting for as the shares of major retailer Myer Holdings (MYR) fall further after Christmas. The share price of the retailer shed 1.8 per cent to $1.95 yesterday, falling to $1.93 at 1225 AEDT today.

Myer shares were floated at $4.10 upon listing on the ASX in November 2, 2009, where it has become a problem to investors after falling by 8 per cent on its first trading day. The retailer is currently facing the lowest price it has hit since its listing day.

Rivals of Myer fell as well, as David Jones shares declined 5 cents at $2..38, Harvey Norman shed 4 cents to $1.81, JB Hi-Fi fell 29 cents to $11.35, and Billabong closed losing half a cent to $1.795.