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2182 Inside Retail Weekly

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T H I S I S S U E : OPINION | Myer might as well have a 'renovator's delight' sign at the entrance to its stores but with a caveat - buyer beware. The retailer has reigned for over a century as one of the most trusted retail brands in Australia and is a leader in the department store category. Today, Myer is in serious trouble and despite annual sales of more than $3 billion, its value has tumbled dramatically with the company's shares trading this week at a lowly 35 cents. At its current share price, Myer is vulnerable to a takeover that might well be viewed more as a relief than hostile by shareholders, who have seen their investment fall to less than 10 percent of the $4.10 price on debut on the Australian Stock Exchange in 2009. But the question is, who would want to buy Myer now? The retailer's board values the business at $580 million, while the share market judgement is that it is worth more than $200m less. The $580 million asset value asserted by directors follows a $538m write-down on its balance sheet that virtually halved Myer's carrying value on assets and goodwill. This asset value is a critical number RRP $14.95 I S S U E 2 1 8 2 Where to now for Myer BY JARED DICKSON INSIDE RETAIL WEEKLY OPINION: Hamstrung by consumers Grabbing immediate market share at the cheapest price has compromised business leaders' choices. pg10 FEATURE: "Serious concerns" over parcel tax Industry divided over tax levy proposal from the government. pg16 NEWS: Domino's ditches enterprise agreement Pizza chain's decision reignites industry debate. pg2 FROM THE SOURCE: Amanda Grocock, Rundle Mall We chat with the general manager of Adelaide's retail hotspot. pg11 NEWS: Cotton On eyes customer perks Fashion retailer launches multi- branded loyalty program. pg3 News and views on the world of retail since 1972 28 MAR 2018 V I S I T : I N S I D E R E T A I L . C O M . A U ► continued on page 8 NEWS: Retailers eye $5 trillion prize Online grocery emerges as the next major battleground in retail. pg4 ?

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