myer share offer., page-11

the department store is dead IMHO. Overheads are too high. People go there to browse and then go to a "pile em high" retail outlet to make the purchase. Myer has some good real estate but will have trouble trying to exploit its full potential because of its location in downtown areas.
While it might even be worth the purchase price it is hard to see Myer build the business in retail without a new concept.