Prior to Covid, Myers onlines sales were at 10.5% of all sales....

Prior to Covid, Myers onlines sales were at 10.5% of all sales. Reports over the past few weeks are saying onlines sales have increased by 800%! There half yearly NPAT was $41.5m and had cash of $103m. Since Covid, there employee overheads would have be significantly down as most would be on job keeper. We don't know about leases yet but i would bet there would be discounts there as well. Since King introduced the Customer First Plan, the ship has been turning slowly, and i believe they are in a strong position to see through covid and emerge as a stronger business with less competition. Target closing many stores and David Jones in debt trouble could change the dynamics. In my opinion, i think the South African Woolworths may decide at some point to cut of the bleeding with DJ's. Reports say that DJ's have debts of approximately $464m and have appointed Korda Mentha for advice. Watch this space.