I believe the article adequately details reasoning for interest from Lew.
We are emotional beings and he has an attachment to the
Myer brand.
We can argue all day long about price but historically $2.19 is still a bargain if you believe Australia's biggest retailer can turn it around. ( the juicy divi will keep attracting punters too)
Personally I feel that on line retailing, whilst growing, is over rated. ( I buy on line frequently btw). People still like the shopping experience. Touching, holding goods, stopping for coffee or lunch then back into it. Consumer discretionary is about so much more than what the internet offers.
I have no doubt whatsoever that Myer need to continually evolve to stay relevant but I don't think their time is up just yet.
MYR Price at posting:
$2.19 Sentiment: Buy Disclosure: Held
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