Fashion
Myer on Friday opened the doors to a refurbished homewares and electronics department in its Sydney CBD store.
The new floor contains 20 shop-in-shop concepts from leading brands, including Scanpan, Le Creuset, Delonghi, Breville, Riedel, Fissler, Salt & Pepper, Maxwell & Williams, and Coles & Mason, as well as the world’s largest shop-in-shop from Dyson.
“We are so thrilled with the new homewares department, with it’s modern and easy to navigate shop-in-shop format,” Alison Muir, the general manager of Myer’s Sydney store, said.
According to Myer’s general manager for home and entertainment, Dean Austin, the floor has the largest choice of homewares in Sydney’s CBD.
The new offering comes as the department store retailer sheds “unprofitable” brands, such as Apple, which it stopped selling in May, as part of a broader turnaround.
The department store managed to pull back a modest improvement during FY19, its first year under chief executive John King, despite shifting consumer behavior.
While total sales fell 3.5 percent to $2.99 billion, and comparable sales fell 2.9 percent, the business managed to reduce its expenses by roughly $33 million over the year in rent and wages.
This focus on more profitable sales led to a net profit after tax of $33.2 million; 2.2 percent up on the year prior.
