Myer Shares Surge as David Jones Collapse Hands a Billionaire a Winning Hand

When the iconic department store David Jones collapsed, investors rushed to its rival Myer, sending Myer’s shares soaring.

The surge in Myer’s share price was noted as a direct boost from the David Jones fallout, with market commentary pointing to the rapid shift of capital.

An unnamed billionaire, whose identity was not disclosed, saw his net worth swell as Myer’s shares climbed.

Analysts caution that the rally may be short‑lived, but for now the market enjoys the unexpected upside that followed the retail giant’s demise.