On the day that Amazon launches in Australia, one of the Countries oldest department store Myer is fighting to prevent a possible takeover after a series of shocking results.
The arrival of Amazon could well be the nail in the coffin for Myer claim some analysts.
Today Premier Investments’ one of Myers biggest shareholders Solomon Lew is set to push for a seats on the board.
Amazon who are known to have an appitite for their own retail stores after buying into Whole Foods is being tipped as a potential buyer of Macy’s department stores.
So could Myer be a target for Amazon in the future.
With Amazon’s acquisition of Whole Foods, it has become clear that the online retailer seeks to have some type of retail presence in brick-and-mortar claims US investment site Seeking Alpha. They claim that like Myer the “price is right” for Amazon to buy Macey’s.
Whether or not they want to run a traditional retail model or if they want to change the stores into a hybrid version of a retail model remains to be seen. However, this sets a tone that we believe makes it reasonable to assess whether or not Amazon may ever want to make a bid for Macy’s, they claim.
We think such a transaction would actually make more sense than people think and wanted to lay out our reasoning as to why.
After Macy’s posted its earnings a couple of days ago, Dealreporter supposedly came out with an article speculating as to why Amazon may want to make a bid for Macy’s.
The article, was speculative in nature and light on details.
They claim that what makes sense is that what is being floated is a relatively common sense argument.
