I believe Myer has also a fulfilment issues.I ordered an...

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Shomaliw

25 Posts.

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08/01/21

10:57

Post #: 50029149
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Originally posted by Hopeful9: ↑

Great post. Your key message is the ability to adapt.

This is challenging for MYR with its very large number of leases (although some stores - real estate - are company owned). From what I can see - no expert here - it's making progress. Solomon Lew being its largest shareholder must be helpful: with some of his other companies, he as I understand it refused to pay landlords rent during much of COVID-19, a tactic that appears to have worked given landlords like VCX look to have lost some of their negotiating power.

Management has had to turn around a bureaucratic monolith and endeavour to make it nimble.

Its apparent success with online sales is pleasing, provided that this method delivers sustainable profit given it could be labour intensive. But competitors like KGN are able to do this, so hopefully MYR can to.

There are still unforseen hindrances that add to expenses and crimp revenue, such as the MYR Chadstone Centre (Vic) store having to close early yesterday after it was revealed by Victoria's incompetent government that someone who was 'positive' had shopped at it, so all the MYR staff had to be tested for the virus at short notice. It's also temporary bad publicity for MYR despite it (and competitors with similar occurrences) not being at fault in any way.

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I believe Myer has also a fulfilment issues.

I ordered an discounted item last week, and I ended up receiving an apology email that they can't fulfil.

I asked for a reason (for more than two days by now), and I haven't received an answer yet which I think is very rude.

MYR Price at posting: 29.5¢ Sentiment: Sell Disclosure: Held
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