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12:35
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Originally posted by Ceeney:
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Having a partner who works at myer. There are some good things and not so good things that most likely will be announced in the annual report. 1st of all online has exploded at myer but they are having trouble getting the staff who are on 10 hour contracts to come in and work as they need to 27.5 hours to recieve any additional pay on top of the jobkeeper. This has caused them to pay for the casuals to come in who are not entitled to jobkeeper to cover those shifts. so that means staff wages will not be as reduced as some people might be lead to think. also middle management has has a hard time on keeping high turnover lines available in store causing some customers to go elsewhere instead of ordering and waiting for the product. This is mainly due to buyers not correctly checking and allocating stock to stores. Myer is in serious need of a middle management cleanout as the attitude and lack due diligence is ripe. Attitude amongst older team members or full time staff is applalling as well as they will not help to cover any other departments when directed by senior team member. Myer has a long way to go if they want to turn around their business. This is especially true for team members and management. There also seems to be no care from the board that we as shareholder are the owners of the business due to their lack of communication. once the SP rise slightly i will be selling this stock for those reasons. i do think this board is capable of increasing NPAT and are on the a good path in doing so. But i dont think myer will ever achieve its former glory with those issues not being addressed. GLTAH. just my 2c.
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Good luck with your selling........I am a long term holder.......If I had the money I would take this over...cheap stock....
