I don't know why so much faith is placed in the online store. Myer can't compete with their competitors there.
They have missed the boat. Instead of paying $100m in dividends (what was the point of the cap raising?) over the past few years, they should have invested in a proper distribution centre. Why doesn't Myer have a version of the Iconic, ASOS or Kogan?
Chemist warehouse undercuts them with grey import fragrances, Kogan with grey import electronics and many of their own clothing suppliers with direct sales. It is hard to see where Myer have any advantage int he future.
Mother of all short covering rallies, page-63
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