Ann: Becoming a substantial holder from MUFG, page-51

Have a look at what David Jones sales results were that they realesed on Friday...they stayed open and sales were down over 50%.......online is nothing in the scheme of things for Myer.....they are going to cop a massive hit financially. Also look at the outlook for the next 12 months, no large gatherings, no horse racing and special events, this is what Myer and DJ's thrive on is woemn having functions to go to and buying a new dress, shoes etc...The future is very bleak for fashion retailers...on top of that more and more pople will be working from home, you can reduce your need for outfits by 30%. Department stores are screwed, the only thing to save Myer is if DJ's takes them over and we only have 1 department store in Australia which would make alot of sense.