The Myer empire is dying

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. Myer has been slow to move online and it's becoming increasingly vulnerable to factors outside management's control, such as aggressive discounting by rivals, currency movements that encourage more online purchases abroad, and the influx of international brands to Australian shores, such as Zara, H&M and Sephora, among many others, which shows no sign of abating. Delivering what could be the final blow, South Africa's Woolworths has foiled Myer's best chance at long term success - merging with David Jones - when it outbid the company's offer by more than 50%. Myer is now in a very precarious position. (VIEW LINK)