Dissecting Retailers' CSR Credentials | Unlocking embedded value in Myer's iconic brand

Sam Ferraro

Global Founders Funds Management

The fulcrum of power and influence in Australia’s superannuation system has been gradually shifting towards asset owners. A key implication of the shifting locus of influence has been renewed interest in ‘activist’ investing and a sharper focus from key stakeholders on Corporate Social Responsibility. Retailers are particularly exposed to these shifting sands because of the frequent contact and familiarity that the community has with their brand and the high level of investor recognition they have. Evidente discusses the adverse media exposure that department store retailer Myer has attracted recently about a sub-contracting firm that it uses to hire cleaners for its stores. Despite Myer's poor performance since re-listing around five years ago, my view is that much of the pessimism is priced into the stock. If the new CEO is able to unlock the embedded value in the iconic brand that Myer represents, Evidente expects that patient investors will be rewarded. (VIEW LINK)


Sam Ferraro
Senior Portfolio Manager
Global Founders Funds Management

Managing Director of Global Founders Funds Management, Sam has over 20 years experience in financial markets, with Merrill Lynch, JBWere and Goldman Sachs.

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