US department stores are going bust or closing outlets due to a glut of supply offline and online , http://www.clark.com/major-retailers-closing-2017 , are online stores taking over , is there a similar situation here ??
Myer, the nation’s biggest department store operator, is in play with billionaire retailer Solomon Lew thought to be behind a sharemarket raid on the company to secure a stake of up to 12 per cent.
It will crunch the shorts who have been selling down Myer shares. It is one of the most shorted stocks on the market, with roughly 15 per cent of the free float as of March 23 being shorted.
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