Minjun ParkFinance
Australian Retail Spending Climbs 7% as Stronger Dollar Eases Import Costs
Household spending rose 1.1 per cent in July while the Australian dollar climbed past 70 US cents, giving import-reliant merchants margin relief.
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Myer
Every story tagged Myer on RetailNews Asia: reporting, analysis and market signals from across Asian retail and e-commerce.
Stories tagged Myer
29 stories in this topic
Sarah ChenResearch
48% Of High-Income Australian Shoppers Plan to Boost Spending
In contrast, 43 per cent of lower-income consumers expect to cut back over the next year, according to OC&C Strategy Consultants.
Wei ZhangFashion
Myer Slips to $276.5 Million Annual Loss on Heavy Store and Brand Write-Downs
A $279.6 million non-cash impairment dragged Australia’s largest department store chain into its second-steepest statutory loss on record despite sales reaching $4.1 billion.
Wei ZhangFashion
Myer Posts AU$276.5 Million Loss on Impairments as Solomon Lew Joins Board
Underlying profit reached AU$42.5 million as apparel brand acquisitions lifted group revenue past AU$4 billion despite large asset write-downs.
Maria SantosFashion
David Jones Shares Jump 12.3 Percent on Mystery UK Takeover Offer
The unsolicited approach from an unnamed British entity also lifted shares in rival Australian department store Myer by more than four percent.
Minjun ParkResearch
Over 60 per Cent of Black Friday Shoppers Pre-Plan Holiday Purchases
Research from PwC and Retail Safari shows 64 per cent of holiday budgets remain unspent entering November, even as 55 per cent of buyers target Black Friday.
Minjun ParkGeneral
Myer turns up the tech scene this Christmas
Myer once again has launched a technology-fuelled Christmas campaign, with this year’s campaign including a bluetooth-enabled stocking and online hub where Aussie kids can write a letter to Santa, create a wish list (which parents can share with friends and…
Maria SantosGeneral
Myer revamps homewares offer in the Sydney flagship store
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 &…
Aiko TanakaGeneral
Cost-cutting, focus on profitable sales drive ‘modest improvement Myer
Myer saw a “modest improvement” in its first full year under CEO and managing director John King’s turnaround plan, despite challenging trading conditions in the second half which tempered some of the department store’s first-half gains. Most of the…
Wei ZhangGeneral
Myer implementing new payment options in-store
Department store Myer will be implementing buy now, pay later service Afterpay in-store in 2020, in an effort to incentivise the 2.7 million active Afterpay customers to visit its retail locations. “Our customers have responded positively to the Afterpay…
Minjun ParkGeneral
Myer keeps Westfield Belconnen store Open
Myer has announced it will keep its Westfield Belconnen, ACT store open, after stating in 2017 that it would close this year, due to a new lease agreement with Scentre Group. The agreement will see the stores’ scope narrowed, dropping from 3 floors to 2, over…
Maria SantosFashion
Myer axes 50 management staff and fresh marketing lead
Myer has cut a further 50 positions from its store management and store support team, including group general manager of marketing Andrew Egan. The cuts are the second round of large scale lay-offs for the department store in the last eight months, with over…
Aiko TanakaFashion
Promising signs of change at Myer
Myer’s move to reduce discounting and cut operating costs, while focusing on online sales and exclusive brands, had a positive impact on earnings in the first half of FY19, driving a 3.1 per cent increase in NPAT and 99bps improvement in gross margin. But…
Rajiv MenonFashion
Customer-first strategy turns out profitable for Myer
Myer CEO John King’s turnaround plan passed its first real test on Wednesday when the retailer reported a 3.1 per cent year-on-year increase in net profit after tax in the first half of FY19 to $41.3 million. While total sales fell 2.8 per cent to $1.67…
Aiko TanakaGeneral
Myer Expects Lower Profits
Myer has warned that its fourth quarter profits may be impacted by lower sales on its winter ranges following an unusually warm start to the cold season. The struggling department store said on Wednesday that its third quarter sales declined by 2.7 per cent…
Sarah ChenGeneral
Myer’s reputation suffers and on the way back
In 2009, when former Myer CEO Bernie Brookes listed the department store on the Australian stock exchange, Myer was ranked as one of the top 10 most reputable companies in Australia. Today, of the 60 companies ranked on the Australian Corporate Reputation…