Well we know they won’t be going into Esprit anymore soon ... with a growing number of brand names closing stores or leaving Oz of late, their customers will look elsewhere .... some will venture to Myer, some won’t ... some will move to online... but the bottom line no matter where they ‘go to’ it’s a wake up call for the big shopping mall landlords ...
.... brands that ‘fold’ and subsequently close stores won’t be paying out their “lease commitments” so it will leave a big gap in revenues and big write offs as more stores close ... sure many of you will say they will just get new tenants, but that will take time ... I see many closed Top Shop premises are still empty ... now Oroton, Esprit, and maybe Toys r Us etc etc - and there are more on the way ... bodes well for Myer IMO to renegotiate their leases - these landlords need Myer footprint in these centres ! Mark Korda will leverage of this amongst other things in his negotiations and I look forward to that announcement outlining ‘successful lease renegotiations’ and Myer moving forward in a profitable manner - just sayin
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