For Myer it cannot be business as usual. They have a potentially very powerful base albeit mostly in a
declining bricks and mortar sector. A little imagination and slightly out-of-the-box approach could turn
this big old ship around methinks.
What possible downside could there be to offering shareholders 50% off all purchases one or two days a year? The goodwill and publicity would provide a so much greater counterbalance to what so many of us shareholders have lost in paper wealth in recent times. In some strange way this would provide more incentive to many investors than dividend returns.
As for local observations this week. I had cause to visit Karrinyup shoppping centre (West Oz) today and I was confronted with an awful looking facade approaching from the west. The MYER lettering on the outside of the building was dirty, rusting and looked nasty. The entrance? Worse. At first glance I thought it was blocked off. No signage, nothing welcoming and a cheaper looking entry than any $2 shop.
I also visited MYER Morley to buy some shoes and a shirt. My impression was that there were still people interested in buying things on what I presume was a good margin but the single assistant was only able to help one person at a time..and waiting ten minutes for assistance destroys any impulse buy. Then on purchase I felt I was talking to a friendly, pleasant enough robot.
Just another POV!
MYR Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
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