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MYR - Myer Holdings

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Garpal Gumnut said:
Many are rented or are not owned outright.

gg
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All the property is gone.

Calvin27 said:
It's not to do with inventory or range or whatever, it comes down to the basics - sales.
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Sure, but if your inventory and range are out of date by the time you have them in stock, or at a price point that's uncompetitive, then you have to discount to move stuff out the door. Zara and their ilk have created a throwaway apparel market. Women wear clothing on average 6-7 times before binning it. With those sort of spending patters, it makes it very hard to get a woman to spend $250 on a pair of Sass and Bide jeans, when Zara sell the same design for under $100 that's more or less the same quality, and H&M will do it for under $50. It's not surprising that labels have lost the cachet that they had pre-Instagram.

When I walk into a MYR store it feels dated, and cluttered, like somewhere my grandmother would go and buy my underwear for Christmas. It's a mid-market retailer and it seems to do everything to remind a shopper that it's a mid-market retailer. When I walk into a Zara store it feels upmarket, even though it's very much mid-market.

These two projects sort of highlight what I'm talking about...


Zara
https://bokor.com.au/shop/item/zara-retail-stores

Myer

https://www.caraipm.com.au/myer.html

Where would you rather shop?

On the plus side, I see MYR now offer same day delivery for internet orders. About time!
 
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Myer are in a bind. I have numerous descendants who are fashion conscious but rarely buy at Myer.

I shop at Lowes. A good tailor with keks and shirt to fit my ample frame which is not due to over indulgence but rather a fear of walking lest I be run over by the lycra cycling mob.

Clothes from Asia are so cheap and the valuation of another by one's attire is so little, it makes sense to buy cheap and be comfortable.

The only exception I make to this is RM Williams boots.

Ideal for intimidating anti-Adani dole bludgers from Byron Bay travelled up to Bowen for 5days.

They also last for 8-10 years which is more than I can say for the anemic pigeon chested anti-Adani protesters.

gg
 
Myer share price continues to sink as the negative sentiment continues to build. A $476 million loss for the last half year after impairments, no CEO, no dividend, booted out of the ASX200. Down another 10% today. It's all looking pretty bleak.

 
Let us : ASF members make a bid to buy MYR.
Lew will definitely make another bid.
MYR prices go up. ASF members and others sell off their holding and withdraw from bidding.
Ha Ha.
How that sounds ?
If good then i will start buying
 
Lol that is hilarious. I'm in....

in...terested that is. How much market power do you rekon ASF folks have in reality? I rekon we'd be lucky to cough up $1m of play money even if we managed to organise a stunt like that.
 
Calvin27 said:
Lol that is hilarious. I'm in....

in...terested that is. How much market power do you rekon ASF folks have in reality? I rekon we'd be lucky to cough up $1m of play money even if we managed to organise a stunt like that.
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Wouldn't that be like passing around a hat to see if we could buy the deck chairs on the Titanic just as it was heading straight for the iceberg? lol
 
greggles said:
Wouldn't that be like passing around a hat to see if we could buy the deck chairs on the Titanic just as it was heading straight for the iceberg? lol
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Greggles - technically buying deck chairs on Titanic would be few times more expensive to buy them from Harrods! Who knows if this sinking ship will really be a Titanic or Nautilus ?
DNH
 
greggles said:
Wouldn't that be like passing around a hat to see if we could buy the deck chairs on the Titanic just as it was heading straight for the iceberg? lol
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Not unless the deck chairs could keep you afloat. While we are at it, the average person would require two deck chairs to float. I've seen stranger things in the market.
 
greggles said:
Rumours are swirling in the mainstream media of a David Jones/Myer merger.
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Once the problems of a business reach the point of being mainstream news you can be pretty certain that it’s seriously bad.

If plan A isn’t working, or in Myer’s case has had the wheels fall off, then the only rational thing to do is pursue plan B with enthusiasm.

The only way I can see Myer remaining viable as is would be to focus only on locations other than the big cities where DJ’s isn’t a competitor and has shown no interest. They could probably have a much smaller but profitable business running department stores in places like that where there’s no direct competition and retail space is cheaper.

Alternatively either merging with DJ’s or eventually going bust seem the most likely outcomes to me.
 
McLovin, I agree, it is all about how you are selling it, bricks and mortar businesses can be as responsive to changing trends, keep costs to a min as online can.

I think this video clip sums up perfectly the new against the old establishment.


Kogan (new) vs Harry Norman (old)

So then the question is, what age demographic do you fit in.
 
Does anyone think MYR will get back to the Float Price? Now 10 fold current value?
 
Redbeard said:
Does anyone think MYR will get back to the Float Price? Now 10 fold current value?
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Impossible in my opinion. Large scale high-end bricks and mortar retailing is dying. Myer is a dinosaur and the meteorites are on their way.
 
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