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paris123456

1,349 Posts.

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26/11/14

19:09

Post #: 14359148
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Originally posted by Menza ↑

I have very mixed opinions on Myer, however I've come to my conclusion and I'm buying under $1.70.

Firstly growth is stagnant, and the 'usefulness' of department stores is very much waning. Department stores are almost like retail dinosaurs, and it could be argued they are past their use-by date. No one gets excited over Myer, but sure as hell there are lines out the door for H&M, Zara etc.

The AUD falling means a bit of a squeeze on Myer's margins for imported products, however it also means less internet spending from Australian consumers, and perhaps a return to department stores.

Myer has been addressing it's problems with customer service through increased use of technology such as implementing 1400 iPads throughout its stores to reduce the time it takes to find products. They've updated the website, and they've made online ordering far easier.

Myer One is a very successful Loyalty Program, however it is a double edged sword given the amount of discounts that need to be sent out (birthday vouchers etc.).

Also, I think the Giftorium idea for Christmas is a winner. Most Myer's have a car park close by, and a one-stop-shop for purchasing obligatory Christmas gifts, full with gift wrapping stations and online bookings to photo with Santa is IMHO a fantastic initiative.

I think given the success of the David Jones takeover, Myer could certainly be in the sites of an International or even home-grown large player.

And lastly, one of the primary reasons I bought in, was that Myer is the most shorted business on the ASX. It currently has over 18% short interest. I think it's evident Myer has been oversold, and I think a short squeeze is coming. I can comfortably invest in Myer as I think it's trading below fair value.

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Sure perhaps in some suburban stores Myer will be fine but put them against the major towns they loose out to new global fashion and cosmetic stores.

MYR Price at posting: $1.68 Sentiment: Sell Disclosure: Held
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Last 64.0¢		Change 0.025(4.07%)		Mkt cap ! $1.105B

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