i posted this on the MYR forum, which related to the potential interest of Solomon lew in myer after he is cashed up from the david jones sale..... i am wondering if anybody here has any thoughts on the subject..
"I can not see any reason for lew to put his cunningly earned dollars into myer - certainly not at the current price of $2.19............ he would be entering an arena where everything is against him -
* a retail sector that is already showing the first stages a declining ecomomy.
* a structural shift in the form of retail shopping ie. via the internet.
* new formidable competition having entered the market in the form of a woolworths south Africa owned david jones with a very impressive track record...."
"I am thinking that once woolworths south Africa owned david jones gets properly underway in australia that it will likely add a few more nails into the coffin of its direct competitor in myer - look at what it has done with country road...."
"the share price has only just risen to its current level from a low of $2.00 probably as partly because of this news article ..... with historic earnings decreasing year on year, and analysts forecasts earnings for the next year or so also well down, i can not the see the share price going anywhere except down..... in my view as the lew/ david jones story fades within a short space of time so will MYR' s share price....."
