I don't know what planet Myers executives live on. Today the chain glumly announced around a 25% slump in sales.

Here's a mini picture of what's going on at Myers.

They have T shirts selling at Myers Penrith for around $40. Today I walked around to Target Penrith in the  same complex Penrith Plaza and bought two T's for $15 each at Target  and they were superior to the stodgy stuff Myers is peddling.

Myers needs the wake up call of the century. They buy imported stuff for peanuts then try and sell it for astronomical prices.

Myers, that's why you could fire a cannonball in your store and not hit anyone.

Target used to be guilty of the same thing, then they changed the stuff they sold and cut the price in line with what you can buy online. They now have queues at their checkouts.

Myer will either learn or they will fold.

Myers don't care: they'll just find another stick thin tall model from the industry that provides the impetus for men to work paying desk jobs! "..oh yeh imagine that tall thing smiling at ya: better than reality and worth drinking another bottle of taxed-very-little wine to!"

I could almost feel like getting up and going to work for another day closer to my 2 day weekend with 3 every now and again! Then I've got holidays I don't even need to take because I am so well rested and put to sleep by endless images of tall thin super models smiling at me before during and after... lucky i'm not gen my that will never be able to compete with daddy ahahahahahahahahaha  ::)

yeh, go world    ::) ::)

paching paching paching: yeh, all the hippies that cut off their hair even admit to knowing that war is a vote winner!

No wonder.... what is the rort of, say for example, ... negative gearing globalised!??!

red baron wrote on Mar 19^th, 2015 at 5:38pm:

I don't know what planet Myers executives live on. Today the chain glumly announced around a 25% slump in sales. Here's a mini picture of what's going on at Myers. They have T shirts selling at Myers Penrith for around $40. Today I walked around to Target Penrith in the  same complex Penrith Plaza and bought two T's for $15 each at Target  and they were superior to the stodgy stuff Myers is peddling. Myers needs the wake up call of the century. They buy imported stuff for peanuts then try and sell it for astronomical prices. Myers, that's why you could fire a cannonball in your store and not hit anyone. Target used to be guilty of the same thing, then they changed the stuff they sold and cut the price in line with what you can buy online. They now have queues at their checkouts. Myer will either learn or they will fold.

This portends an economic slump in retailing. Myer is a bellwether for retail sales.

Doom and gloom.

Sell the flagpole.

I said in another thread this quarter's figures will be interesting.

Successive governments have ripped the guts out of manufacturing for 2 decades. Nearly all our industry we have left is the building/mortgage industry.

Oroton's profit slumped by 57%. That is more than double Myers' slump.


Quote:

It has been a bad day for shareholders in retailers; with luxury leather and clothing retailer Oroton revealing a slump in profitability and slashing its dividend. Oroton's first-half profit dropped to $2.2 million dollars, down 57 per cent from the same period last year. The firm's interim dividend has almost halved from 8 cents last year to just 4.5 cents a share, fully-franked.