The Myer empire is dying

It wouldn’t be the first time Myer has disappointed investors. The company’s share price has fallen 18% since releasing its full-year result, with sales flat and net profit down 23%. The stock has lost almost half its value since it listed in late 2009. It would be easy for management to blame factors such as timid consumer spending and increasing online sales for the lousy result, but Myer isn’t doing itself any favours. Its online store was closed for a week after being overwhelmed last Boxing Day, while rival David Jones didn’t miss a beat announcing extra discounts on its...

It wouldn’t be the first time Myer has disappointed investors. The company’s share price has fallen 18% since releasing its full-year result, with sales flat and net profit down 23%. The stock has lost almost half its value since it listed in late 2009.

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