Why did MRL get hammered ..pls, page-3

MRL is one of my fav long term value/growth stocks, a great buy at these levels, sold down on low volumes for reasons that only effect short term players. I hope it goes back below $2.30 so I can get some more, there's a couple of others I think look great at the moment too, but I'm keeping a lid on them hoping they drop more.

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SHAW Analyst Comments: Miller's Retail share price fall
May 2, 2002
Share fallen to a low fo $2.28

The shares have recently fallen to a low of $2.28, which is lower than I would have anticipated.

Market concerned about governance issues

The market is concerned about some governance issues in the company especially the general merchandise operations, and with the many acquisitions made with little expansion of HO, I suspect the managers are stretched far too tight.

The market has also been concerned about the impact of a reinvigorated CML / Target on MRL's core apparel market.

Pressure from CBA & AMP selldown

The selldown by CBA from 13.5% to 8%, and of AMP from 6.3% to 5.3% since mid Feb has also put downward pressure on the stock.

MRL believes 30% EBITA increase likely

MRL released to the market a statement noting they believe EBITA in 2002 should be at least 30% above last year (in line with HY +33%), and that comparable apparel store sales growth remains double digit for Jan to Apr (an improvement after some weakness in their HY to Dec).