With Sydney and Melbourne both likely to open up retailing by October or November, Myer will be hoping shoppers will sprint back to stores in the lead up to Christmas - with heavy wallets. It might also give Myer a bit of time to progress the plan to spin off its online business. While this may be little more than a thought bubble now, it is one of the options Myer is looking at to unlock value in the share price. Myer boss JohnKing was coy about it on Thursday, saying only that it hadn't been considered by the board. But he spent a considerable amount of time talking about the underlying value of the online business and the medium-term aspiration to almost double revenue to $1 billion. He also referred to the "monetisation" of the department store's loyalty program MYER one, noting Virgin Australia which unlocked value in its Velocity loyalty business. The Market Recap newsletter is a wrap of the day's trading. Get it each weekday afternoon.