The issue with Myer is it's younger shoppers don't value shopping there. I've been to their flagship Sydney store only to find rubbish (mind you this is their casual menswear) - some of the products seem like something I would have worn 10+ years ago. Unlike DJs, Myer tends to stock a number of brands that have no appeal yet charge a fortune for it.
With young shoppers getting much of their fashion influence from social media and blogs then purchasing products online I don't value the department store business model. The retail environment has changes drastically in the last 5-10 years but Myer's offering hasn't changed much - their online store offers a small fraction of what is available in store which pretty much shows how out of touch the company is (can't say DJs is much better either) - it's is also terrible to navigate.
Fortunately I think Myer has been given a life line with the falling dollar and GST changes - but if they don't revamp their brand offerings I think they'll be done for.
MYR Price at posting:
$1.21 Sentiment: Sell Disclosure: Not Held
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