I think David Jones is a good example of the fact that there is...

I think David Jones is a good example of the fact that there is still a place for well run department stores in Australia. I have had my eye on Myer for awhile, there was no way I was going to buy this stock while the ex CEO was still on-board. He is gone now, tick. The new CEO seems to be operating under the principle of less words, more action. Good on him. I bought this stock because I like the changes they are making, specifically better financing arrangements, less permanent staff (more flexibility) and better revenue per square metre (losing under-performing brands). You can't turn around a ship this large overnight, however you don't wait to buy after the benefits of such an approach have been realised as you miss out on the price appreciation in between.