This caught my eye. Will be able to work out what is happening when Myer releases its results next week.
Kmart grew strongly, Target did quite well comparably too. Trying to cross reconcile with aggregated department store figures from Scentre and it looks like Myer must have taken market share away from DJs. Significantly DJs are going to cut 20% of floor space over the next 3 yrs, with Target also being heavily converted into Kmart/K-Hub and Myer continuing its process, the space normalisation may come around a lot sooner than expected, particularly with a buoyant consumer. Finally, the repair processes DJs are implementing sound very much like what Myer has been talking about since JK joined- so seems like they are well ahead on the transformation journey.
Anyway all conjecture until results come through.
This caught my eye. Will be able to work out what is happening...
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