While it is not analyst-grade analytical, after Mass this morning my family was in the MYR flagship Melbourne CBD store between 1030 and 1200 AEST.
Yesterday (Saturday 23 July) was a miserable, rainy, dull day in Melbourne so perhaps that accounted for some shoppers, but the MYR city store was extremely well patronised on Sunday 24, especially in womens' shoes (where my wife bought three pairs) and to a slightly lesser extent, mens' clothing. I didn't go up to the 5th floor with homewares.
I have rarely seen it so busy early in the day. Hate to think what it'll be like at 1430 AEST this afternoon, given the sunny winter's day in Melbourne.
The sale has seen ticketed prices cut by 30 per cent but it's obviously bringing the hordes in, and we all know if you can attract the female demographic, it's very helpful to takings.
What struck me on the womens' shoes second floor area was how many girls in their early 20s to early 30s were looking and then purchasing. The three female shop assistants were literally run off their feet. In the mens' shoes area, even stingy me couldn't resist buying a suitable pair for travelling.
Other trading days may be poorer, and department stores (like WOW/MTS' IGAs/COL supermarkets) have Sunday marked as usually the busiest trading day, but it was extremely encouraging to see so many in the CBD store in Melbourne.
EOFY for MYR is Sunday 31 July. (I previously held, but profitably sold and am kicking myself I didn't repurchase at say A$0.32, but thermal coal stocks have percentage wise been better, with juicier potential dividends).
The death of the department store may have been exaggerated somewhat.
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