Just watched strategies day on myer's investors website.
The Myer Board of directors are extremely knowledgeable about the problems and the challenges ahead but have no ideas on how to solve them. Competing with the big guys head on ( Amazon ) is a waste of money, energy and head space.
IMOH....
Work on your strengths!!!
They know the have to strengthens foot traffic, but they don't know how. They know they have to attracted the millenials, and they don't know how.
Strategies goes in circles...
In the 90s Myer Centre brisbane had Arcade entertainment on the top level. It was great day event for small kids, big kids and Parents. Today, when we go to Myer Centre the only place the kids want to go is the small toy section and they get bored and want to go home. Tenpin bowling is currently in at the moment because of peoples desire for a "WHOLE FAMILY ENTERTAINMENT". Tenpin bowling was so too in, in the 90s and went out. The strategies would be to reduce half of the failed electrical floor and install a vibrant Arcade gaming area.
In terms of millenial fashions, Myer needs to show that they are the forefront of fashion, not just another Target or
K mart.The strategies would be to not just put clothes on mannequin but to have pictures of people millenials want to be like (eg. someone with a cool hair do, even though you are trying to sell the shirt). This way you are selling more then just a shirt but you are selling COOL.
Knowledge prevent you from thinking outside the Square, Where is your imagination.
Could someone get this message to the board !
ALL IN MY OPINION
MYR Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
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