Yep, I'd expect that the iniative to reduce leasing costs of the...

Yep, I'd expect that the iniative to reduce leasing costs of the existing footprint continues, just with Myer in a much stronger negotiating power by virtue of Myer being able to bring a wide range of specialty stores to a centre also.

The best bit of the deal for me is that they're going to continue to keep hold of the sass & bide, Marcs and David Lawrence labels. These are going to be worth more than the entire current mkt value of Myer over time, particularly if their brand can be built up further through utlising the excess Premier Investments stand alone stores that they'll be getting as part of the deal. The current sales process in the current market conditions was crazy IMO.

Myer one will also grow in status once it's rolled out accross the new stores. I'm sure Olivia is all over that.