myer float gave the PE suiters a four fold return on investment in two years right? Surely that would cause other to want to have a crack at DJS>....even if they are prepared to make a much lower profit...like just doubling their money :-)
Board is strongly backing Zahra because there is not one else currently in the management team that could step up to the role...and no major fund has complained yet ( quote from a a smh article yesterday). Stephen goddard would have been the likely successor but he has just quit....so in a sense they dont' have any other choice right now..
About opening new stores.....keep in mind that the david jones customer is older / richer / less likely to shop online for a bargain.....then say a myer customer who would be youger and more looking for a brand name..! If you're shopping for a high end brand like say YSL .....you can only really buy it in David Jones or from a YSL branded shop....myer wouldnt' stock it and you wouldn't really care about saving a little money to buy it online cheaper somewhere? my 3 cents :-)
DJS Price at posting:
$2.33 Sentiment: LT Buy Disclosure: Held
